Published on 3/1/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4 million 8.85% contingent yield trigger callables tied to three indexes
By Susanna Moon
Chicago, March 1 – Barclays Bank plc priced $4 million of trigger callable contingent yield notes due Feb. 14, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.85% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly determination date after one year.
The payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | MSCI EAFE, Russell 2000 and S&P 500
|
| Amount: | $4 million
|
| Maturity: | Feb. 14, 2023
|
| Coupon: | 8.85% annualized, payable quarterly if each index closes at or above 70% coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above 60% downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call option: | At par on any quarterly determination date other than the final date beginning Feb. 11, 2019
|
| Initial levels: | 2,581.00 for S&P, 1,463.793 for Russell, 2,022.67 for MSCI EAFE
|
| Coupon barriers: | 1,806.70 for S&P, 1,024.655 for Russell, 1,415.87 for MSCI EAFE, 70% of initial levels
|
| Downside thresholds: | 1,548.60 for S&P, 878.276 for Russell, 1,213.60 for MSCI EAFE, 1,213.60 for MSCI EAFE, 60% of initial levels
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 14
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2%
|
| Cusip: | 06746Q637
|
|
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
