By Kiku Steinfeld
Chicago, June 15 – Barclays Bank plc priced $2.77 million of trigger autocallable contingent yield notes due May 23, 2024 linked to the lesser performing of the iShares Russell 2000 ETF and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if both ETFs close above their initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the coupon unless either ETF finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
Issuer: | Barclays Bank plc
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying ETFs: | iShares Russell 2000 ETF and Technology Select Sector SPDR fund
|
Amount: | $2,770,100
|
Maturity: | May 23, 2024
|
Coupon: | 9% annual rate, payable quarterly if each ETF closes at or above coupon barrier on observation date
|
Price: | Par of $10
|
Call: | At par plus the coupon if both ETFs close above their initial levels on any quarterly observation date after six months
|
Payout at maturity: | Par plus the coupon if both ETFs finish above 70% of initial level; otherwise, 1% loss for each 1% decline of the worse performing ETF from initial level
|
Initial levels: | $217.95 for Russell and $134.37 for Technology
|
Coupon barriers: | $152.57 for Russell and $94.06 for Technology, 70% of initial levels
|
Downside thresholds: | $152.57 for Russell and $94.06 for Technology, 70% of initial levels
|
Pricing date: | May 19
|
Settlement date: | May 24
|
Agents: | Barclays and UBS Financial Services Inc.
|
Fees: | None
|
Cusip: | 06747T689
|
|
|
© 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.