Published on 6/28/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $11.56 million trigger autocallable contingent yield notes on Russell, Nasdaq
By Sarah Lizee
Olympia, Wash., June 28 – Barclays Bank plc priced $11.56 million of trigger autocallable contingent yield notes due June 29, 2029 linked to the Russell 2000 index and the Nasdaq-100 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 6.75% 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 unless either underlier finishes below the 50% 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 Nasdaq-100 index
|
| Amount: | $11,564,090
|
| Maturity: | June 29, 2029
|
| Coupon: | 6.75%, 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 beginning June 26, 2020
|
| Payout at maturity: | Par if both close above 50% of initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
|
| Initial levels: | 7,627.051 for Nasdaq and 1,517.775 for Russell
|
| Coupon barriers: | 5,338.936 for Nasdaq and 1,062.443 for Russell, 70% of initial levels
|
| Downside thresholds: | 3,813.526 for Nasdaq and 758.888 for Russell, 50% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | June 28
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747B217
|
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