Published on 4/18/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $11.29 million trigger autocallables linked to Nasdaq, Dow
By Angela McDaniels
Tacoma, Wash., April 18 – Barclays Bank plc priced $11.29 million of trigger autocallable contingent yield notes due April 19, 2029 linked to the lesser performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 6.65% if each index closes at or above its coupon barrier, 50% of its initial level, on the observation date for that quarter.
Beginning April 16, 2020, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold, 50% of its initial level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Nasdaq-100 and Dow
|
| Amount: | $11,285,060
|
| Maturity: | April 19, 2029
|
| Coupon: | 6.65%, payable quarterly if indexes close at or above coupon barriers on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case exposure to decline of lesser-performing index from initial level
|
| Call: | Beginning April 16, 2020, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 7,654.731 for Nasdaq-100 and 26,452.66 for Dow
|
| Coupon barriers: | 5,358.312 for Nasdaq-100 and 18,516.86 for Dow, or 70% of initial levels
|
| Downside thresholds: | 3,827.366 for Nasdaq-100 and 13,226.33for Dow, or 50% of initial levels
|
| Pricing date: | April 16
|
| Settlement date: | April 22
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747A110
|
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