Published on 5/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $9.97 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., May 30 – Barclays Bank plc priced $9.97 million of trigger callable contingent yield notes with daily coupon observation due Nov. 30, 2022 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at a rate of 9.6% per year if each index closes at or above its coupon barrier, 65% of its initial level, on each day during that quarter.
The notes will be callable at par of $10 on each quarterly observation date.
If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes with daily coupon observation
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $9,965,000
|
| Maturity: | Nov. 30, 2022
|
| Coupon: | 9.6% per year, payable quarterly if each index closes at or above its coupon barrier on each day during that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
| Call option: | At par on each quarterly observation date
|
| Initial index levels: | 1,514.109 for Russell, 2,826.06 for S&P, 3,350.70 for Stoxx
|
| Coupon barriers: | 984.171 for Russell, 1,836.94 for S&P, 2,177.96 for Stoxx; 65% of initial levels
|
| Downside thresholds: | 908.465 for Russell, 1,695.64 for S&P, 2,010.42 for Stoxx; 60% of initial levels
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1%
|
| Cusip: | 06747B522
|
© 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.
