Published on 1/13/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $16.48 million trigger callable yield notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Barclays Bank plc priced $16.48 million of 6.2% trigger callable yield notes due April 13, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par of $10 on any monthly call date after three months.
The payout at maturity will be par unless the index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the index.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger callable yield notes
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Underlying index: | S&P 500 index
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Amount: | $16,481,600
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Maturity: | April 13, 2022
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Coupon: | 6.2% per year, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline of index
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Call option: | At par on any coupon date starting April 8
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Initial level: | 3,824.68
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Downside threshold: | 2,294.81, 60% of initial level
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Pricing date: | Jan. 8
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Settlement date: | Jan. 13
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Underwriter: | UBS Financial Services Inc. and Barclays
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Fees: | 1%
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Cusip: | 06747L280
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