Published on 8/29/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $15.56 million trigger autocallables linked to Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., Aug. 29 – Barclays Bank plc priced $15.56 million of trigger autocallable contingent yield notes due Aug. 31, 2029 linked to the lesser performing of the Nasdaq-100 index 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 the rate of 7.25% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning Aug. 28, 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.
If the notes are not called and each index finishes at or above its downside threshold level, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines 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: | Nasdaq-100 and Russell 2000
|
| Amount: | $15,563,000
|
| Maturity: | Aug. 31, 2029
|
| Coupon: | 7.25% per year, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If notes are not called and each index finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | Beginning Aug. 28, 2020, automatically at par if each index closes at or above initial level on any quarterly observation date
|
| Initial levels: | 7,587.896 for Nasdaq-100 and 1,472.713 for Russell 2000
|
| Coupon barriers: | 5,311.527 for Nasdaq-100 and 1,030.899 for Russell 2000, or 70% of initial levels
|
| Downside thresholds: | 3,793.948 for Nasdaq-100 and 736.357 for Russell 2000, or 50% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 30
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747C397
|
© 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.
