Published on 1/14/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $15.6 million trigger autocallable contingent yield notes on Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Jan. 14 – Barclays Bank plc priced $15.6 million of trigger autocallable contingent yield notes due Jan. 13, 2022 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 6.7% if each underlier closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
The notes will be will be automatically called at par plus the coupon if each index closes above its initial level on any quarterly observation date.
The payout at maturity will be par plus any coupon due unless either underlier finishes below the 75% 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
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underliers: | Russell 2000 index and Dow Jones industrial average
|
| Amount: | $15,599,510
|
| Maturity: | Jan. 13, 2022
|
| Coupon: | 6.7%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | Automatically at par plus the coupon if each index closes above its initial level on any quarterly observation date
|
| Payout at maturity: | Par plus any coupon due if both indexes close above initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
|
| Initial levels: | 1,657.643 for Russell, 28,823.77 for Dow
|
| Coupon barriers: | 1,243.232 for Russell, 21,617.83 for Dow, 75% of initial levels
|
| Downside thresholds: | 1,243.232 for Russell, 21,617.83 for Dow, 75% of initial levels
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 15
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06747E138
|
|
|
© 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.
