Published on 4/1/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.93 million trigger autocallables linked to Nasdaq, Dow
By Angela McDaniels
Tacoma, Wash., April 1 – Barclays Bank plc priced $4.93 million of trigger autocallable contingent yield notes due March 28, 2024 linked to the lesser performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.65% if each index closes at or above its downside threshold, 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, 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
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Nasdaq-100 and Dow
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Amount: | $4,925,300
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Maturity: | March 28, 2024
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Coupon: | 7.65%, payable quarterly if indexes close at or above downside thresholds on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par unless either index finishes below downside threshold, in which case exposure to decline of lesser-performing index
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Call: | Beginning March 27, 2020, automatically at par if indexes close at or above initial levels on any quarterly observation date
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Initial levels: | 7,308.193 for Nasdaq-100 and 25,625.59 for Dow
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Downside thresholds: | 5,155,735 for Nasdaq-100 and 17,937.91 for Dow, or 70% of initial levels
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Pricing date: | March 27
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Settlement date: | March 29
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 2.5%
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Cusip: | 06746Y127
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