Published on 4/22/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $10.72 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., April 22 – Barclays Bank plc priced $10.72 million of trigger callable contingent yield notes due Oct. 20, 2022 linked to the least 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 pay a contingent coupon at a rate of 10% per year if each index closes at or above its coupon barrier, 70% of its initial level, on every day that quarter.
The notes are callable at par of $10 on each quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $10,719,100
|
| Maturity: | Oct. 20, 2022
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| Coupon: | 10% per year, payable quarterly if each index closes at or above its coupon barrier on every day that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
| Call option: | At par on each quarterly observation date other than final one
|
| Initial index levels: | 7,680.717 for Nasdaq, 1,567.597 for Russell 2000 and 2,900.45 for S&P 500
|
| Coupon barriers: | 5,376.502 for Nasdaq, 1,097.318 for Russell 2000 and 2,030.32 for S&P 500; 70% of initial levels
|
| Downside thresholds: | 4,608.430 for Nasdaq, 940.558 for Russell 2000 and 1,740.27 for S&P 500; 60% of initial levels
|
| Pricing date: | April 17
|
| Settlement date: | April 23
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.25%
|
| Cusip: | 06747A581
|
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