Published on 7/16/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.23 million trigger autocallables linked to Dow, Russell
By Angela McDaniels
Tacoma, Wash., July 16 – Barclays Bank plc priced $2.23 million of trigger autocallable contingent yield notes due July 17, 2029 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.1% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning July 13, 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 underwriters.
Issuer: | Barclays Bank plc
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying indexes: | Dow Jones industrial average and Russell 2000
|
Amount: | $2.23 million
|
Maturity: | July 17, 2029
|
Coupon: | 8.1%, 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 July 13, 2020, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
Initial levels: | 27,332.03 for Dow and 1,569.998 for Russell 2000
|
Coupon barriers: | 19,132.42 for Dow and 1,098.999 for Russell 2000, or 70% of initial levels
|
Downside thresholds: | 13,666.02 for Dow and 784.999 for Russell 2000, or 50% of initial levels
|
Pricing date: | July 12
|
Settlement date: | July 17
|
Underwriters: | UBS Financial Services Inc. and Barclays
|
Fees: | None
|
Cusip: | 06747C876
|
© 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.