Published on 1/25/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $15.33 million 7.3% contingent yield trigger autocalls on S&P, Russell
By Susanna Moon
Chicago, Jan. 25 – Barclays Bank plc priced $15.33 million of trigger autocallable contingent yield notes due Jan. 23, 2029 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.3% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly observation date after one year.
The payout at maturity will be par unless either index finishes below its 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $15,327,000
|
| Maturity: | Jan. 23, 2029
|
| Coupon: | 7.3% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss per 1% decline of worse performing index
|
| Call: | At par if index closes at or above its initial level on each quarterly observation date beginning Jan. 21, 2020
|
| Initial levels: | 2,670.71 for S&P, 1,482.501 for Russell
|
| Coupon barriers: | 1,869.50 for S&P, 1,037.751 for Russell, 70% of initial levels
|
| Downside thresholds: | 1,335.36 for S&P, 741.251 for Russell, 50% of initial levels
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 24
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06746Y200
|
|
|
|
|
© 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.
