Published on 5/31/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.28 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., May 31 – Barclays Bank plc priced $2.28 million of trigger callable contingent yield notes due May 31, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at a rate of 10.75% per year if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
The notes will be callable at par of $10 on each quarterly observation date.
If the notes are not called and each index finishes at or above its downside threshold, 75% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
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| Amount: | $2.28 million
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| Maturity: | May 31, 2024
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| Coupon: | 10.75% per year, payable quarterly if each index closes at or above its coupon barrier on the 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 for every 1% that least-performing index’s final level is below initial level
|
| Call option: | At par on each quarterly observation date
|
| Initial index levels: | 7,300.961 for Nasdaq, 1,514.109 for Russell, 2,826.06 for S&P
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| Coupon barriers: | 5,475.721 for Nasdaq, 1,135.582 for Russell, 2,119.55 for S&P; 75% of initial levels
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| Downside thresholds: | 5,475.721 for Nasdaq, 1,135.582 for Russell, 2,119.55 for S&P; 75% of initial levels
|
| Pricing date: | May 28
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| Settlement date: | May 31
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| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06747B514
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