Published on 5/15/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $8.73 million trigger autocallable contingent yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 15 – Barclays Bank plc priced $8.73 million of trigger autocallable contingent yield notes due May 18, 2023 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 8.9% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the coupon unless the laggard index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the laggard index from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying indexes: | S&P 500 index, Russell 2000 index
|
Amount: | $8,730,980
|
Maturity: | May 18, 2023
|
Coupon: | 8.9%, payable quarterly if laggard index closes at or above coupon barrier on related observation date
|
Price: | Par of $10
|
Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date after six months
|
Payout at maturity: | Par plus coupon if each index closes above downside threshold; otherwise 1% for each 1% decline of laggard index from initial level
|
Initial level: | 1,233.251 for Russell and 2,820.0 for S&P
|
Coupon barrier: | 863.2757 for Russell and 1,874.00 for S&P, or 70% of initial levels
|
Downside threshold: | 616.626 for Russell and 1,410.0 for S&P, 50% of initial level
|
Pricing date: | May 13
|
Settlement date: | May 18
|
Agents: | UBS Financial Services Inc. and Barclays
|
Fees: | 2%
|
Cusip: | 06747H834
|
|
© 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.