Published on 7/19/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.79 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., July 19 – Barclays Bank plc priced $3.79 million of trigger callable contingent yield notes with daily coupon observation due Jan. 20, 2023 linked to the least performing of the MSCI EAFE index, the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at a rate of 9% per year if each index closes at or above its coupon barrier, 70% of its initial level, on each day during that quarter.
The notes will be callable at par of $10 on each quarterly observation date.
If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
|
Issue: | Trigger callable contingent yield notes with daily coupon observation
|
Underlying indexes: | MSCI EAFE index, Russell 2000 index and MSCI Emerging Markets index
|
Amount: | $3,785,000
|
Maturity: | Jan. 20, 2023
|
Coupon: | 9% per year, payable quarterly if each index closes at or above its coupon barrier on each day during that quarter
|
Price: | Par of $10
|
Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
Call option: | At par on each quarterly observation date
|
Initial index levels: | 1,917.67 for EAFE, 1,054.90 for EM, 1,550.778 for Russell
|
Coupon barriers: | 1,342.37 for EAFE, 738.43 for EM, 1,085.545 for Russell; 70% of initial levels
|
Downside thresholds: | 1,150.60 for EAFE, 632.94 for EM, 930.467 for Russell; 60% of initial levels
|
Pricing date: | July 17
|
Settlement date: | July 22
|
Agents: | UBS Financial Services Inc. and Barclays
|
Fees: | 1.5%
|
Cusip: | 06747C819
|
|
© 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.