Published on 9/3/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3 million trigger callable contingent yield notes tied to three indexes
Chicago, Sept. 3 – Barclays Bank plc priced $3 million trigger callable contingent yield notes due Aug. 11, 2022 tied 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.
The notes pay a quarterly contingent coupon at an annualized rate of 12% if all three indexes close above their 70% coupon barrier levels on each trading day during the relevant observation period.
The notes may be called at par plus any coupon due on any quarterly observation date at the election of the issuer.
The payout at maturity will be par of $10 plus the contingent coupon if all three indexes close above their 70% downside threshold levels on the final valuation date.
Otherwise, investors will be exposed to the losses of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Nasdaq-100 index, the Russell 2000 index and the S&P 500 index
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| Amount: | 12%
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| Maturity: | Aug. 11, 2022
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| Coupon: | 12% annual rate, payable quarterly if all three indexes close above their 70% coupon barriers on all trading days during observation period
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if all three indexes close above 70% downside threshold values on final valuation date, otherwise full exposure to losses of worst performing index
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| Call: | At par plus any coupon on any quarterly observation date at issuer’s election
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| Initial levels: | 7,551.900 for Nasdaq-100, 1,500.686 for Russell 2000 and 2,883.98 for S&P 500
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| Coupon barriers: | 5,286.330 for Nasdaq-100, 1,050.480 for Russell 2000 and 2,018.79 for S&P 500, 70% of initial levels
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| Final barriers: | 5,286.330 for Nasdaq-100, 1,050.480 for Russell 2000 and 2,018.79 for S&P 500, 70% of initial levels
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 13
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| Agent: | Barclays
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| Fees: | 1.5%
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| Cusip: | 06747C520
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