Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $14.16 million trigger autocallable contingent yield notes on two indexes
By Wendy Van Sickle
Columbus, Ohio, April 19 – Barclays Bank plc priced $14.16 million of trigger autocallable contingent yield notes due April 14, 2034 linked to the lesser performing of the Euro Stoxx 50 index and the Nasdaq-100 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 7% if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if each index closes at or above their initial levels on any quarterly observation date after one year.
The payout at maturity will be par plus the coupon if each index finishes at or above its 75% final barrier.
Otherwise, investors will lose 1% for each 1% decline of the laggard index from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 index and Nasdaq-100 index
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| Amount: | $14,155,000
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| Maturity: | April 14, 2034
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| Coupon: | 7% annual rate, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus the coupon if each index finishes at or above final barrier; otherwise, 1% loss for each 1% decline of the laggard index from initial level
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| Call: | At par plus the coupon if each index closes at or above their initial levels on any quarterly observation date after one year
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| Initial levels: | 4,955.01 for Stoxx, 18,003.49 for Nasdaq
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| Coupon barriers: | 3,716.26 for Stoxx, 13,502.62 for Nasdaq; 75% of initial levels
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| Downside thresholds: | 3,716.26 for Stoxx, 13,502.62 for Nasdaq; 75% of initial levels
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| Pricing date: | April 15
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| Settlement date: | April 18
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 06748M113
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