Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.07 million trigger autocallables linked to MSCI EM, S&P
By Angela McDaniels
Tacoma, Wash., July 30 – Barclays Bank plc priced $8.07 million of trigger autocallable contingent yield notes due Aug. 1, 2024 linked to the lesser performing of the MSCI Emerging Markets 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 an annual rate of 7.45% if each index closes at or above its downside threshold, 70% of its initial level, on the observation date for that quarter.
Beginning July 29, 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, 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: | MSCI Emerging Markets and S&P 500
|
| Amount: | $8,071,700
|
| Maturity: | Aug. 1, 2024
|
| Coupon: | 7.45%, payable quarterly if indexes close at or above downside thresholds 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 29, 2020, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 1,045.73 for MSCI Emerging Markets and 3,020.97 for S&P 500
|
| Downside thresholds: | 732.01 for MSCI Emerging Markets and 2,114.68 for S&P 500, or 70% of initial levels
|
| Pricing date: | July 29
|
| Settlement date: | July 31
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06747C777
|
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