Published on 11/19/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $14.61 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., Nov. 19 – Barclays Bank plc priced $14.61 million of callable contingent coupon notes due Aug. 17, 2023 linked to the Russell 2000 index, the Nasdaq-100 index and the S&P 500 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 10.5% if each index 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 plus any coupon due on any contingent coupon payment date.
The payout at maturity will be par plus the coupon, if any, unless any underlier finishes below the 60% barrier value, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underliers: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $14.61 million
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| Maturity: | Aug. 17, 2023
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| Coupon: | 10.5%, payable quarterly if each underlier closes at or above coupon barrier on observation date
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| Price: | Par
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| Call: | At par plus any coupon due on any contingent coupon payment date
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| Payout at maturity: | Par plus any coupon if each index finishes above downside threshold; otherwise 1% for each 1% decline of the worse performing underlier from initial level
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| Initial levels: | 8,257.831 for Nasdaq, 1,588.794 for Russell, 3,096.63 for S&P
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| Coupon barriers: | 5,780.482 for Nasdaq, 1,112.156 for Russell, 2,167.64 for S&P, 70% of initial levels
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| Downside thresholds: | 4,954.699 for Nasdaq, 953.276 for Russell, 1,857.98 for S&P, 60% of initial levels
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 19
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 06747E203
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