Published on 11/1/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.04 million trigger autocallable contingent yield notes on Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – Barclays Bank plc priced $2.04 million of callable contingent coupon notes due Nov. 1, 2029 linked to the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be callable quarterly at par after a year.
The payout at maturity will be par plus the coupon, if any, unless either underlier finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underliers: | Russell 2000 index and Dow Jones industrial average
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Amount: | $2,038,500
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Maturity: | Nov. 1, 2029
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Coupon: | 8.4%, payable quarterly if each underlier closes at or above coupon barrier on observation date
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Price: | Par of $10
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Call: | At par quarterly after a year
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Payout at maturity: | Par plus any coupon if both close above 50% of initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
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Initial levels: | 1,577.073 for Russell, 27,071.42 for Dow
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Coupon barriers: | 1,103.951 for Russell, 18,949.99 for Dow, 70% of initial levels
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Downside thresholds: | 788.537 for Russell, 13,535.71 for Dow, 50% of initial levels
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Pricing date: | Oct. 29
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Settlement date: | Oct. 31
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 0%
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Cusip: | 06747D635
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