Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $15 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., July 30 – Barclays Bank plc priced $15 million of trigger callable contingent yield notes with daily coupon observation due April 28, 2023 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 10% per year if each index closes at or above its coupon barrier, 70% of its initial level, on each day during that quarter.
The notes will be callable at par of $10 on each quarterly observation date.
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 with daily coupon observation
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Underlying indexes: | Nasdaq-100 index, the Russell 2000 index and the S&P 500 index
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Amount: | $14,995,000
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Maturity: | April 28, 2023
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Coupon: | 10% per year, payable quarterly if each index closes at or above its coupon barrier on each day during 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
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Initial index levels: | 8,016.953 for Nasdaq, 1,578.967 for Russell, 3,025.86 for S&P
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Coupon barriers: | 5,611.867 for Nasdaq, 1,105.277 for Russell, 2,118.10 for S&P; 70% of initial levels
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Downside thresholds: | 4,810.172 for Nasdaq, 947.380 for Russell, 1,815.52 for S&P; 60% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 1%
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Cusip: | 06747C652
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