Published on 9/17/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $14.35 million trigger autocallable contingent yield notes on Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 17 – Barclays Bank plc priced $14.35 million of callable contingent coupon notes due Sept. 18, 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 6.85% 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 callable quarterly at par after one year.
The payout at maturity will be par plus the coupon, if any, 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.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underliers: | Russell 2000 index and Nasdaq-100 index
|
| Amount: | $14,348,020
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| Maturity: | Sept. 18, 2029
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| Coupon: | 6.85%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par quarterly after one year
|
| Payout at maturity: | Par plus any coupon if both close above 50% of initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
|
| Initial levels: | 1,578.138 for Russell, 7,892.955 for Nasdaq
|
| Coupon barriers: | 1,104.697 for Russell, 5,525.069 for Nasdaq, 70% of initial levels
|
| Downside thresholds: | 789.069 for Russell, 3,946.478 for Nasdaq, 50% of initial levels
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 18
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747C165
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