Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $6.94 million trigger contingent yield autocalls on Russell, Nasdaq
Chicago, Feb. 5 – Barclays Bank plc priced $6.94 million of trigger autocallable contingent yield notes due Jan. 29, 2030 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 8.05% 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 will be automatically called at par plus the coupon if each index closes above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the final coupon if either underlier finishes below the 60% 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
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Issue: | Trigger autocallable contingent yield notes
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Underliers: | Russell 2000 index and Nasdaq-100 index
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Amount: | $6,935,000
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Maturity: | Jan. 29, 2030
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Coupon: | 8.05%, payable quarterly if each underlier closes at or above coupon barrier on observation date
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Price: | Par of $10
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Call: | Automatically at par plus the coupon if each index closes above its initial level on any quarterly observation date after one year
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Payout at maturity: | Par plus coupon if both indexes close above downside threshold level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
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Initial levels: | 1,649.221 for Russell, 9,101.613 for Nasdaq
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Coupon barriers: | 1,154.455 for Russell, 6,371.129 for Nasdaq, 70% of initial levels
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Downside thresholds: | 989.533 for Russell, 5,460.968 for Nasdaq, 60% of initial levels
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Pricing date: | Jan. 29
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Settlement date: | Jan. 31
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | None
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Cusip: | 06747F663
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