Published on 5/16/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.25 million trigger autocallable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., May 16 – Barclays Bank plc priced $5.25 million trigger autocallable contingent yield notes due May 17, 2029 linked to the Russell 2000 index, the S&P 500 index and the MSCI Emerging Markets 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 8.65% if each 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 each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Russell 2000, S&P 500, MSCI Emerging Markets
|
| Amount: | $5,245,000
|
| Maturity: | May 17, 2029
|
| Coupon: | 8.65%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par plus coupon, if any, unless either index closes below downside threshold level, in which case will lose 1% for each 1% decline of the worse performing index from initial level
|
| Initial levels: | 1,016.49 for EM, 1,523.001 for Russell, 2,811.87 for S&P
|
| Coupon barriers: | 711.54 for EM, 1,066.101 for Russell, 1,968.31 for S&P, 70% of initial levels
|
| Downside thresholds: | 508.25 for EM, 761.501 for Russell, 1,405.94 for S&P, 50% of initial levels
|
| Pricing date: | May 14
|
| Settlement date: | May 17
|
| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 3.5%
|
| Cusip: | 06747B738
|
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