Published on 12/4/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.68 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Barclays Bank plc priced $3.68 million of trigger callable contingent yield notes due Nov. 30, 2022 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 7% if each index closes at or above its coupon barrier, 65% 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 after six months.
The payout at maturity will be par plus the coupon, if any, unless any underlier finishes below the 55% 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: | Trigger callable contingent yield notes
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| Underliers: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $3,675,000
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| Maturity: | Nov. 30, 2022
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| Coupon: | 7%, 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 after six months
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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: | 8,385.745 for Nasdaq, 1,624.231 for Russell, 3,108.46 for S&P
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| Coupon barriers: | 5,450.734 for Nasdaq, 1,055.75 for Russell, 2,172.48 for S&P, 65% of initial levels
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| Downside thresholds: | 4,612.16 for Nasdaq, 839.327 for Russell, 1,727.29 for S&P, 55% of initial levels
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| Pricing date: | Nov. 26
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| Settlement date: | Nov. 29
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 1.1%
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| Cusip: | 06747E732
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