Published on 6/26/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $13.36 million 9.25% trigger callable yield notes on two indexes
By Wendy Van Sickle
Columbus, Ohio, June 26 – Barclays Bank plc priced $13.36 million of 9.25% trigger callable yield notes due Sept. 12, 2024 linked to the S&P 500 index and the Russell 2000 index, 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 index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the least-performing index 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 indexes: | Russell 2000 index, S&P 500 index
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Amount: | $13,362,380
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Maturity: | Sept. 12, 2024
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Coupon: | 9.25% per year, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless least-performing index finishes below downside threshold, in which case 1% loss for each 1% decline of least-performing index from initial level
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Call option: | At par on any coupon date after three months
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Initial levels: | 4,365.69 for S&P, 1,863.015 for Russell
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Downside thresholds: | 2,619.41 for S&P, 1,117.809 for Russell; 60% of initial levels
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Pricing date: | June 21
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Settlement date: | June 26
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Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | 0%
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Cusip: | 06748G256
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