Published on 2/6/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.46 million trigger autocallable contingent yield notes on Russell, S&P
Chicago, Feb. 6 – Barclays Bank plc priced $2.46 million of trigger autocallable contingent yield notes due Feb. 2, 2023 linked to the Russell 2000 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 8% 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 automatically called at par plus the coupon if each index closes above its initial level on any quarterly observation date beginning after six months.
The payout at maturity will be par plus the coupon due 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
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Issue: | Trigger autocallable contingent yield notes
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Underliers: | Russell 2000 index and S&P 500 index
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Amount: | $2,463,000
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Maturity: | Feb. 2, 2023
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Coupon: | 8%, 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 beginning after six months
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Payout at maturity: | Par plus any coupon due if both indexes close above 70% of initial level; otherwise 1% for each 1% decline of the worse performing underlier from initial level
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Initial levels: | 1,602.63 for Russell, 3,093.20 for S&P
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Coupon barriers: | 1,649.221 for Russell, 3,273.40 for S&P, 70% of initial levels
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Downside thresholds: | 1,154.455 for Russell, 2,291.38 for S&P, 70% 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: | 06747F614
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