Published on 8/22/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.78 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 22 – Barclays Bank plc priced $5.78 million of trigger callable contingent yield notes due Aug. 23, 2024 linked to the least performing of the MSCI EAFE 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 9.5% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date 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
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | MSCI EAFE index, the Russell 2000 index and the S&P 500 index
|
| Amount: | $5.78 million
|
| Maturity: | Aug. 23, 2024
|
| Coupon: | 9.5% per year, payable quarterly if each index closes at or above its coupon barrier on observation date that quarter
|
| Price: | Par of $10
|
| 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
|
| Call option: | At par on each quarterly observation date
|
| Initial index levels: | 1,825.84 for MSCI EAFE, 1,498.006 for Russell, 2,900.51 for S&P
|
| Coupon barriers: | 1,278.09 for MSCI EAFE, 1,048.604 for Russell, 2,030.36 for S&P; 70% of initial levels
|
| Downside thresholds: | 1,095.5 for MSCI EAFE, 898.804 for Russell, 1,740.31 for S&P; 60% of initial levels
|
| Pricing date: | Aug. 20
|
| Settlement date: | Aug. 23
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06747C439
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
