Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $22.29 million trigger autocallables linked to Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., July 30 – Barclays Bank plc priced $22.29 million of trigger autocallable contingent yield notes due Aug. 2, 2029 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 6.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning July 29, 2020, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold, 50% of its initial level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Nasdaq-100 and Russell 2000
|
| Amount: | $22,285,100
|
| Maturity: | Aug. 2, 2029
|
| Coupon: | 6.5%, payable quarterly if indexes close at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case exposure to decline of lesser-performing index from initial level
|
| Call: | Beginning July 29, 2020, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 7,989.082 for Nasdaq-100 and 1,569.025 for Russell 2000
|
| Coupon barriers: | 5,592.357 for Nasdaq-100 and 1,098.318 for Russell 2000, or 70% of initial levels
|
| Downside thresholds: | 3,994.541 for Nasdaq-100 and 784.513 for Russell 2000, or 50% of initial levels
|
| Pricing date: | July 29
|
| Settlement date: | July 31
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747C785
|
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