Published on 4/18/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.9 million 9.9% trigger callable yield notes on two ETFs
By William Gullotti
Buffalo, N.Y., April 18 – Barclays Bank plc priced $3.9 million of 9.9% trigger callable yield notes due July 17, 2024 linked to the iShares Russell 2000 ETF and the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par unless the least-performing ETF finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the least-performing ETF from its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger callable yield notes
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Underlying funds: | SPDR S&P MidCap 400 ETF Trust, iShares Russell 2000 ETF
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Amount: | $3,896,420
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Maturity: | July 17, 2024
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Coupon: | 9.9% per year, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless least-performing ETF finishes below downside threshold, in which case 1% loss for each 1% decline of least-performing ETF from initial level
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Call option: | At par on any coupon date after three months
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Initial level: | $453.66 for SPDR, $175.84 for iShares
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Downside threshold: | $272.20 for SPDR, $105.50 for iShares; 60% of initial level
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Pricing date: | April 12
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Settlement date: | April 17
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Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | None
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Cusip: | 06748G504
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