Published on 12/27/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $15.4 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., Dec. 27 – Barclays Bank plc priced $15.4 million of trigger callable contingent yield notes due Dec. 26, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.85% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be callable at par of $10 plus any coupon on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold level, 70% of its initial level, the payout at maturity will be par plus any coupon. Otherwise, investors will lose 1% for every 1% decline of the least-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: | Nasdaq-100, Russell 2000, S&P 500
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Amount: | $15.4 million
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Maturity: | Dec. 26, 2024
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Coupon: | 7.85% per year, payable quarterly if each index closes at or above its barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus any coupon unless any index finishes below barrier level, in which case 1% loss for every 1% decline of worst performing index
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Call option: | At par plus any coupon, quarterly
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Initial levels: | 8,678.491 for Nasdaq, 1,671.902 for Russell, 3,221.22 for S&P
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Coupon barrier levels: | 6,074.944 for Nasdaq, 1,170.331 for Russell, 2,254.85 for S&P; 70% of initial levels
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Downside thresholds: | 6,074.944 for Nasdaq, 1,170.331 for Russell, 2,254.85 for S&P; 70% of initial levels
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Pricing date: | Dec. 23
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Settlement date: | Dec. 27
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 2%
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Cusip: | 06747E278
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