Published on 3/28/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $11.69 million trigger autocallables linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., March 28 – Barclays Bank plc priced $11.69 million of trigger autocallable contingent yield notes due March 29, 2029 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 6.85% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning March 27, 2020, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold level, 50% of its initial level, in which case investors will be exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $11,691,250
|
| Maturity: | March 29, 2029
|
| Coupon: | 6.85%, payable quarterly if indexes close at or above coupon barriers on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case exposure to decline of lesser-performing index
|
| Call: | Beginning March 27, 2020, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 1,522.231 for Russell 2000 and 2,805.37 for S&P 500
|
| Coupon barriers: | 1,065.562 for Russell 2000 and 1,963.76 for S&P 500; 70% of initial levels
|
| Downside thresholds: | 761.116 for Russell 2000 and 1,402.69 for S&P 500; 50% of initial levels
|
| Pricing date: | March 27
|
| Settlement date: | March 29
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06746Y119
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
