Published on 6/3/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $7.8 million trigger autocallable contingent yield notes on Russell, Dow
By Sarah Lizee
Olympia, Wash., June 3 – Barclays Bank plc priced $7.8 million of trigger autocallable contingent yield notes due May 31, 2024 linked to the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.6% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each underlier closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the coupon unless either underlier finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underliers: | Russell 2000 index and Dow Jones industrial average
|
| Amount: | $7,798,000
|
| Maturity: | May 31, 2024
|
| Coupon: | 7.6%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each underlier closes at or above initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par plus coupon if both close above 70% of initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
|
| Initial levels: | 25,126.41 for Dow and 1,489.952 for Russell
|
| Coupon barriers: | 17,588.49 for Dow and 1,042.966 for Russell, 70% of initial levels
|
| Downside thresholds: | 17,588.49 for Dow and 1,042.966 for Russell, 70% of initial levels
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06747B597
|
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