Published on 6/22/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $30.58 million trigger autocallable contingent yield notes on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, June 22 – Barclays Bank plc priced $30.58 million of trigger autocallable contingent yield notes due June 20, 2023 linked to the Dow Jones industrial average and the Russell 2000 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 7.75% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if both indexes close above their initial levels on any quarterly observation date starting on Dec. 17.
The payout at maturity will be par plus the coupon, if any, 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: | Trigger autocallable contingent yield notes
|
Underliers: | Dow Jones industrial average and Russell 2000 index
|
Amount: | $30,575,740
|
Maturity: | June 20, 2024
|
Coupon: | 7.75%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
Price: | Par of $10
|
Call: | At par plus the coupon if both indexes close above their initial levels on any quarterly observation date starting on Dec. 17
|
Payout at maturity: | Par plus any coupon if both close above 50% of initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
|
Initial levels: | 26,611.61 for Dow, 1,426.531 for Russell
|
Coupon barriers: | 18,283.73 for Dow, 998.572 for Russell, 70% of initial levels
|
Downside thresholds: | 13,059.81 for Dow, 713.266 for Russell, 50% of initial levels
|
Pricing date: | June 17
|
Settlement date: | June 22
|
Agents: | Barclays and UBS Financial Services Inc.
|
Fees: | 2.25%
|
Cusip: | 06747H172
|
|
© 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.