Published on 8/26/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.78 million trigger autocallable contingent yield notes on Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Aug. 26 – Barclays Bank plc priced $1.78 million of callable contingent coupon notes due Aug. 26, 2024 linked to the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that month.
The notes will be callable monthly at par after six months.
The payout at maturity will be par plus the coupon, if any, unless either underlier finishes below the 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underliers: | Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $1.78 million
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| Maturity: | Aug. 26, 2024
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| Coupon: | 7%, payable monthly if each underlier closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Call: | At par monthly after six months
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| Payout at maturity: | Par plus any coupon if both close above 60% of initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
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| Initial levels: | 26,202.73 for Dow, 7,733.22 for Nasdaq
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| Coupon barriers: | 18,341.91 for Dow, 5,413.25 for Nasdaq, 70% of initial levels
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| Downside thresholds: | 15,721.64 for Dow, 4,639.93 for Nasdaq, 60% of initial levels
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 26
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| Agent: | Barclays
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| Fees: | 2%
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| Cusip: | 06747NDY7
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