Published on 10/29/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $36.70 million trigger callable yield notes on S&P 500
By Marisa Wong
Los Angeles, Oct. 29 – Barclays Bank plc priced $36,698,900 of 6.02% trigger callable yield notes due Feb. 2, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par of $10 on any monthly call date after three months.
The payout at maturity will be par unless the index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the index.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger callable yield notes
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Underlying index: | S&P 500 index
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Amount: | $36,698,900
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Maturity: | Feb. 2, 2022
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Coupon: | 6.02% per year, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline of index
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Call option: | At par on any coupon date starting Jan. 28
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Initial level: | 3,271.03
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Downside threshold: | 1,962.62, 60% of initial level
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Pricing date: | Oct. 28
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Settlement date: | Oct. 30
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Underwriter: | UBS Financial Services Inc. and Barclays
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Fees: | 0.1%
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Cusip: | 06747K225
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