Published on 4/30/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $25 million trigger callable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 30 – Barclays Bank plc priced $25 million of trigger callable contingent yield notes with daily coupon observation due Oct. 31, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.6% if each index closes at or above its coupon barrier level, 70% of its initial level, on each scheduled trading day during that observation date.
The notes will be callable at par of $10 plus any coupon on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold level, 60% of its initial level, the payout at maturity will be par plus any coupon. Otherwise, investors will lose 1% for every 1% decline of the least-performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | Nasdaq-100 index, Russell 2000, S&P 500
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| Amount: | $25 million
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| Maturity: | Oct. 31, 2024
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| Coupon: | 9.6% per year, payable quarterly if each index closes at or above its coupon barrier level on each scheduled trading day during that observation date
|
| Price: | Par of $10
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| Payout at maturity: | Par plus any coupon unless any index finishes below downside threshold level, in which case 1% loss for every 1% decline of worst performing index
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| Call option: | At par plus any coupon on any quarterly observation date other than final one
|
| Initial levels: | 2,301.267 for Russell, 4,186.72 for S&P, 13,960.28 for Nasdaq
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| Coupon barrier levels: | 1,610.887 for Russell, 2,930.7 for S&P, 9,772.2 for Nasdaq, 70% of initial levels
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| Knock-in levels: | 1,380.76 for Russell, 2,512.03 for S&P, 8,376.17 for Nasdaq, 60% of initial levels
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1%
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| Cusip: | 06747R329
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