Published on 5/14/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.01 million trigger autocallables linked to Dow, Nasdaq
By Angela McDaniels
Tacoma, Wash., May 14 – Barclays Bank plc priced $4.01 million of trigger autocallable contingent yield notes due May 15, 2029 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.4% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning May 11, 2020, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold, 50% of its initial level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Dow Jones industrial average and Nasdaq-100
|
| Amount: | $4,005,000
|
| Maturity: | May 15, 2029
|
| Coupon: | 7.4%, payable quarterly if indexes close at or above coupon barriers on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case exposure to decline of lesser-performing index from initial level
|
| Call: | Beginning May 11, 2020, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 25,942.37 for Dow and 7,586.531 for Nasdaq-100
|
| Coupon barriers: | 18,159.66 for Dow and 5,310.572 for Nasdaq-100, or 70% of initial levels
|
| Downside thresholds: | 12,971.19 for Dow and 3,793.266 for Nasdaq-100, or 50% of initial levels
|
| Pricing date: | May 10
|
| Settlement date: | May 15
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747B837
|
© 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.
