Published on 2/24/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.23 million trigger autocallable contingent yield notes on indexes
By Taylor Fox
New York, Feb. 24 – Barclays Bank plc priced $3.23 million of trigger autocallable contingent yield notes due Feb. 23, 2024 linked to the Russell 2000 index and the Euro Stoxx 50 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 9.7% 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 plus the coupon if both indexes close above their initial levels on any quarterly observation date after six months.
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: | Russell 2000 index and the Euro Stoxx 50 index
|
| Amount: | $3,234,000
|
| Maturity: | Feb. 23, 2024
|
| Coupon: | 9.7%, 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 after six months
|
| 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: | 2,266.689 for Russell and 3,713.46 for Stoxx
|
| Coupon barriers: | 1,586.682 for Russell and 2,599.42 for Stoxx, 70% of initial levels
|
| Downside thresholds: | 1,586.682 for Russell and 2,599.42 for Stoxx, 70% of initial levels
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 06744A444
|
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