Published on 1/18/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.7 million 7.75% contingent yield trigger callables tied to indexes
By Susanna Moon
Chicago, Jan. 18 – Barclays Bank plc priced $2.7 million of trigger callable contingent yield notes due Jan. 21, 2022 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly observation date after one year.
The payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Russell 2000, S&P 500 and Nasdaq-100
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| Amount: | $2,696,000
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| Maturity: | Jan. 21, 2022
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| Coupon: | 7.75% annualized, payable quarterly if each index closes at or above its 75% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worst performing index
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| Call option: | At par on each quarterly observation date beginning July 16, 2019
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| Initial levels: | 1,454.697 for Russell, 2,616.10 for S&P, 6,668.562 for Nasdaq
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| Coupon barriers: | 1,018.288 for Russell, 1,831.27 for S&P, 4,667.993 for Nasdaq, 70% of initial levels
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| Downside thresholds: | 872.818 for Russell, 1,569.66 for S&P, for Nasdaq, 60% of initial levels
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 22
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2%
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| Cusip: | 06746Y309
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