Published on 10/25/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $12.26 million trigger callable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 25 – Barclays Bank plc priced $12.26 million of trigger callable contingent yield notes with daily coupon observation due Sept. 25, 2025 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.
The notes will pay a contingent quarterly coupon at an annual rate of 15.65% if each index’s closing level is at least 70% of its initial level every day that period.
The notes are callable at par plus any coupon otherwise due on any quarterly observation date.
If the notes have not been called and each index finishes at or above its 55% knock-in level, the payout will be par plus any contingent coupon due.
Otherwise, investors will lose 1% for every 1% that the worst performer finishes below its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes with daily coupon observation
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $12,255,000
|
| Maturity: | Sept. 25, 2025
|
| Coupon: | 15.65% per year, payable quarterly if each index closes at or above its coupon barrier level every day that period
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any final coupon unless worst performer finishes below knock-in level, in which case 1% loss for every 1% decline of laggard index
|
| Call option: | At par plus any coupon otherwise due on any quarterly observation date
|
| Initial levels: | 3,757.99 for S&P, 1,722.31 for Russell, 11,501.65 for Nasdaq
|
| Coupon barrier levels: | 2,630.59 for S&P, 1,205.617 for Russell, 8,051.16 for Nasdaq; 70% of initial levels
|
| Knock-in levels: | 2,066.89 for S&P, 947.271 for Russell, 6,325.91 for Nasdaq; 55% of initial levels
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 26
|
| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1%
|
| Cusip: | 06748C693
|
|
|
© 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.
