Published on 11/1/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.03 million trigger autocallable contingent yield notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – Barclays Bank plc priced $3.03 million trigger autocallable contingent yield notes due Oct. 29, 2021 linked to 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 8.5% if the index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1%.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying index: | S&P 500
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| Amount: | $3,034,000
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| Maturity: | Oct. 29, 2021
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| Coupon: | 8.5%, payable quarterly if index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly observation date after six months
|
| Payout at maturity: | Par plus coupon unless index closes below downside threshold level, in which case will lose 1% for each 1% decline
|
| Initial level: | 2,641.25 for S&P
|
| Coupon barrier: | 1,848.88, 70% of initial level
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| Downside threshold: | 1,848.88, 70% of initial level
|
| Pricing date: | Oct. 29
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| Settlement date: | Oct. 31
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| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 0%
|
| Cusip: | 06746V842
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