Published on 4/14/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.57 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 14 – Barclays Bank plc priced $4.57 million of trigger autocallable contingent yield notes due March 28, 2024 linked to the Russell 2000 index and the S&P 500 Value 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 8.5% 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 S&P 500 Value index
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| Amount: | $4,565,000
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| Maturity: | March 28, 2024
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| Coupon: | 8.5%, 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: | 2,158.682 for Russell and 1,403.632 for S&P 500 Value
|
| Coupon barriers: | 1,511.077 for Russell and 982.542 for S&P 500 Value, 70% of initial levels
|
| Downside thresholds: | 1,511.077 for Russell and 982.542 for S&P 500 Value, 70% of initial levels
|
| Pricing date: | March 29
|
| Settlement date: | March 31
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 06747R758
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