Published on 12/17/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.65 million trigger callable contingent yield notes on indexes
By Kiku Steinfeld
Chicago, Dec. 17 – Barclays Bank plc priced $3.65 million of trigger callable contingent yield notes with daily coupon observation due Aug. 24, 2023 linked to the Russell 2000 index, the Nasdaq-100 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 9.15% if each index closes at or above its coupon barrier, 70% of its initial level, on every day that quarter.
The notes will be callable quarterly at par of $10 plus any coupon due on any quarterly observation date other than the final one.
The payout at maturity will be par plus any coupon due, unless any underlier finishes below its 55% downside threshold level, 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
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underliers: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $3,652,500
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| Maturity: | Aug. 24, 2023
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| Coupon: | 9.15%, payable quarterly if each underlier closes at or above coupon barrier on every day that quarter
|
| Price: | Par of $10
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| Call: | At par plus any coupon on any quarterly observation date other than final one
|
| Payout at maturity: | Par plus any coupon if each index finishes above downside threshold level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
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| Initial levels: | 8,265.618 for Nasdaq, 1,583.962 for Russell, 3,103.54 for S&P
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| Coupon barriers: | 5,785.933 for Nasdaq, 1,108.773 for Russell, 2,172.48 for S&P, 70% of initial levels
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| Downside thresholds: | 4,546.090 for Nasdaq, 871.179 for Russell, 1,706.95 for S&P, 55% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 27
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 06747E781
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