Published on 5/14/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.95 million trigger contingent yield notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., May 14 – Barclays Bank plc priced $4.95 million of trigger callable contingent yield notes due May 13, 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 the rate of 9.25% per year if each index closes at or above its downside threshold, 70% of its initial level, on the observation date for that quarter.
Beginning Nov. 12, 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, 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 underwriters.
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: | $4,954,000
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Maturity: | May 13, 2022
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Coupon: | 9.25% per year, payable quarterly if each index closes at or above downside threshold on observation date for 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: | Beginning Nov. 12, at par on each quarterly observation date other than final one
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Initial levels: | 7,586.351 for Nasdaq-100, 1,572.993 for Russell 2000 and 2,881.40 for S&P 500
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Downside thresholds: | 5,310.572 for Nasdaq-100, 1,101.095 for Russell 2000 and 2,016.98 for S&P 500; 70% of initial levels
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Pricing date: | May 10
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Settlement date: | May 15
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Underwriters: | UBS Financial Services Inc. and Barclays
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Fees: | 2%
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Cusip: | 06747B852
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