Published on 11/27/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $35.36 million trigger autocallable contingent yield notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Nov. 27 – Barclays Bank plc priced $35.36 million of callable contingent coupon notes due Nov. 29, 2029 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.05% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be callable quarterly at par after a year.
The payout at maturity will be par plus the coupon unless either underlier finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underliers: | Russell 2000 index and S&P 500 index
|
| Amount: | $35,362,130
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| Maturity: | Nov. 29, 2029
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| Coupon: | 6.05%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par quarterly after a year
|
| Payout at maturity: | Par plus any coupon if both indexes close above 50% of initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
|
| Initial levels: | 1,624.231 for Russell, 3,140.52 for S&P
|
| Coupon barriers: | 1,136.962 for Russell, 2,198.36 for S&P, 70% of initial levels
|
| Downside thresholds: | 812.116 for Russell, 4,157.762 for S&P, 50% of initial levels
|
| Pricing date: | Nov. 26
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| Settlement date: | Nov. 29
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 06747E609
|
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