Published on 12/4/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.82 million trigger autocallable contingent yield notes on Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Barclays Bank plc priced $4.82 million of callable contingent coupon notes due Dec. 2, 2024 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 8.7% 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 a year.
The payout at maturity will be par plus the coupon unless either underlier finishes below the 70% downside threshold, 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
|
| Issue: | Callable contingent coupon notes
|
| Underliers: | Russell 2000 index and Nasdaq-100 index
|
| Amount: | $4,823,000
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| Maturity: | Dec. 2, 2024
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| Coupon: | 8.7%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par quarterly after a year
|
| Payout at maturity: | Par plus any coupon if both indexes close above 70% of initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
|
| Initial levels: | 1,624.231 for Russell, 8,385.745 for Nasdaq
|
| Coupon barriers: | 1,136.962 for Russell, 5,870.022 for Nasdaq, 70% of initial levels
|
| Downside thresholds: | 1,136.962 for Russell, 5,870.022 for Nasdaq, 70% of initial levels
|
| Pricing date: | Nov. 26
|
| Settlement date: | Nov. 29
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 06747E815
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