Published on 5/7/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.56 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., May 7 – Barclays Bank plc priced $4.56 million of trigger callable contingent yield notes due Nov. 8, 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 9.6% per year if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date 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
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
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Amount: | $4,555,800
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Maturity: | Nov. 8, 2022
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Coupon: | 9.6% per year, payable quarterly if each index closes at or above its coupon barrier on observation date that quarter
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Price: | Par of $10
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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
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Call option: | At par on each quarterly observation date other than final one
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Initial index levels: | 7,845.729 for Nasdaq-100, 1,614.022 for Russell 2000 and 2,945.64 for S&P 500
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Coupon barriers: | 5,099.724 for Nasdaq-100, 1,049.114 for Russell 2000 and 1,914.67 for S&P 500; 65% of initial levels
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Downside thresholds: | 4,707.437 for Nasdaq-100, 968.413 for Russell 2000 and 1,767.38 for S&P 500; 60% of initial levels
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Pricing date: | May 3
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Settlement date: | May 8
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 1%
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Cusip: | 06747A169
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