Published on 6/17/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $25 million trigger callable contingent yield notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, June 17 – Barclays Bank plc priced $25 million of trigger callable contingent yield notes due June 15, 2023 linked to the stocks of Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com, Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 25% if each stock closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes will be callable at par of $10 plus any coupon on any quarterly observation date other than the final one.
If the notes are not called and each stock finishes at or above its downside threshold level, 70% of its initial level, the payout at maturity will be par plus any coupon. Otherwise, investors will lose 1% for every 1% decline of the least-performing stock.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger callable contingent yield notes
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| Underlying stocks: | Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com, Inc. and Facebook, Inc.
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| Amount: | $25 million
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| Maturity: | June 15, 2023
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| Coupon: | 25% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date for that period
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| Price: | Par of $10
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| Payout at maturity: | Par plus any coupon unless any stock finishes below downside threshold level, in which case 1% loss for every 1% decline of worst performing stock
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| Call option: | At par plus any coupon on any quarterly observation date other than final one
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| Initial levels: | $215.24 for Alibaba, $1,401.90 for Alphabet, $2,557.96 for Amazon.com, $236.73 for Facebook
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| Coupon barrier/downside thresholds: | $150.67 for Alibaba, $981.33 for Alphabet, $1,790.57 for Amazon.com, $157.10 for Facebook, 70% of initial levels
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| Pricing date: | June 12
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| Settlement date: | June 17
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 0.5%
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| Cusip: | 06747H198
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