Published on 8/15/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.67 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – Barclays Bank plc priced $2.67 million of trigger callable contingent yield notes with daily coupon observation due Feb. 16, 2023 linked to the least performing of the Nasdaq-100 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 9.9% 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
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | Nasdaq-100 index, the Russell 2000 index and the S&P 500 index
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| Amount: | $2,666,000
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| Maturity: | Feb. 16, 2023
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| Coupon: | 9.9% per year, payable quarterly if each index closes at or above its coupon barrier on each day during that quarter
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| Price: | Par of $10
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| 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
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| Call option: | At par on each quarterly observation date
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| Initial index levels: | 7,646.268 for Nasdaq, 1,513.043 for Russell, 2,918.65 for S&P
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| Coupon barriers: | 4,970.074 for Nasdaq, 983.478 for Russell, 1,897.12 for S&P; 65% of initial levels
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| Downside thresholds: | 4,587.761 for Nasdaq, 907.826 for Russell, 1,751.19 for S&P; 60% of initial levels
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| Pricing date: | Aug. 12
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| Settlement date: | Aug. 15
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1%
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| Cusip: | 06747C462
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