Published on 2/6/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million callable contingent coupon notes on Stoxx index, EAFE ETF
By William Gullotti
Buffalo, N.Y., Feb. 6 – Barclays Bank plc priced $1 million of callable contingent coupon notes due Jan. 29, 2029 linked to the performance of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 9% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly call date after six months.
If the notes are not redeemed early and each underlier finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer falls below the coupon barrier but finishes at or above its 60% final barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying assets: | Euro Stoxx 50 index, iShares MSCI EAFE ETF
|
Amount: | $1,002,000
|
Maturity: | Jan. 29, 2029
|
Contingent coupon: | 9% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
|
Price: | Par
|
Payout at maturity: | If the final level of each underlier is greater than or equal to its coupon barrier, par plus final coupon; if the worst performer finishes below coupon barrier but at or above final barrier, par; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
|
Call option: | In whole at par plus any coupon due on any quarterly call date after six months
|
Initial levels: | $74.51 for ETF, 4,564.11 for Stoxx
|
Coupon barriers: | $52.16 for ETF, 3,194.88 for Stoxx; 70% of initial levels
|
Final barrier levels: | $44.71 for ETF, 2,738.47 for Stoxx; 60% of initial levels
|
Pricing date: | Jan. 24
|
Settlement date: | Jan. 29
|
Agent: | Barclays
|
Fees: | 0.925%
|
Cusip: | 06745PLV1
|
|
© 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.