Published on 2/15/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $8.37 million trigger autocallable contingent yield notes on indexes
By Taylor Fox
New York, Feb. 16 – Barclays Bank plc priced $8.37 million of trigger autocallable contingent yield notes due Jan. 25, 2024 linked to the Nasdaq-100 index 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 index 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 of $10 plus the coupon if both indexes close above their initial levels on any quarterly observation date starting July 22.
The payout at maturity will be par plus the coupon unless either index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $8,366,500
|
| Maturity: | Jan. 25, 2024
|
| Coupon: | 7.75% annual rate, payable quarterly if each index 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 July 22
|
| Payout at maturity: | Par plus the coupon if both indexes finish above 70% of initial level; otherwise, 1% loss for each 1% decline of the worse performing index from initial level
|
| Initial levels: | 13,404.99 for Nasdaq, 2,141.421 for Russell
|
| Coupon barrier levels: | 9,383.49 for Nasdaq, 1,498.995 for Russell, 70% of initial levels
|
| Downside thresholds: | 9,383.49 for Nasdaq, 1,498.995 for Russell, 70% of initial levels
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 06744A709
|
|
|
© 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.
