Published on 7/13/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.99 million trigger autocallable contingent yield notes on three indexes
By William Gullotti
Buffalo, N.Y., July 13 – Barclays Bank plc priced $3.99 million of trigger autocallable contingent yield notes due July 11, 2024 linked to the performance of the S&P 500 index, the MSCI Emerging Markets 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 8.4% if each index closes at or above its coupon barrier, 80% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if all the 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 any index finishes below its 80% 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: | MSCI Emerging Markets index, Russell 2000 index, S&P 500 index
|
| Amount: | $3,985,000
|
| Maturity: | July 11, 2024
|
| Coupon: | 8.4% 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 all indexes close above their initial levels on any quarterly observation date after six months
|
| Payout at maturity: | Par plus the coupon if each index finishes above 80% of its initial level; otherwise, 1% loss for each 1% decline of the worse performing index from its initial level
|
| Initial levels: | 1,316.25 for EM, 2,231.677 for Russell, 4,320.82 for S&P
|
| Coupon barriers: | 1,053.0 for EM, 1,785.342 for Russell, 3,456.66 for S&P; 80% of initial levels
|
| Downside thresholds: | 1,053.0 for EM, 1,785.342 for Russell, 3,456.66 for S&P; 80% of initial levels
|
| Pricing date: | July 8
|
| Settlement date: | July 13
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 06747W583
|
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