Published on 3/11/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $10.83 million trigger callable contingent yield notes on Russell, EAFE, S&P
By Wendy Van Sickle
Columbus, Ohio, March 11 – Barclays Bank plc priced $10.83 million of trigger callable contingent yield notes due March 7, 2025 linked to the S&P 500 index, the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.35% 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 at par plus any coupon on any quarterly observation date.
The payout at maturity will be par plus the coupon due unless any underlier finishes below the 70% 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: | Trigger callable contingent yield notes
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| Underliers: | S&P 500 index, Russell 2000 index and the MSCI EAFE index
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| Amount: | $10.83 million
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| Maturity: | March 7, 2025
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| Coupon: | 9.35%, 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 option: | At par plus any coupon on any quarterly observation date
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| Payout at maturity: | Par plus any coupon due if all indexes close above 70% of initial level; otherwise 1% for each 1% decline of the worst performing underlier from initial level
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| Initial levels: | 1,859.44 for EAFE, 1,531.197 for Russell, 3,130.12 for S&P
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| Coupon barriers: | 1,301.61 for EAFE, 1,071.838 for Russell, 2,191.08 for S&P, 70% of initial levels
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| Downside thresholds: | 1,115.66 for EAFE, 918.718 | for Russell, 1,878.07 for S&P, 60% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 10
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 06747G745
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