By Jennifer Chiou
New York, May 31 - Barclays Bank plc priced $3 million of callable contingent quarterly payment notes due June 1, 2018 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay quarterly interest payments at an annualized rate of 8.65% if the lowest-performing component closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that quarter.
If the final level of the lowest-performing component is greater than or equal to its 60% barrier level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
The notes are callable at par on any quarterly contingent payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent quarterly payment notes
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Underlying indexes: | Russell 2000 and Euro Stoxx 50
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Amount: | $3 million
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Maturity: | June 1, 2018
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Coupon: | 8.65% per year, payable quarterly if lowest-performing component closes at or above the coupon barrier level on valuation date for that quarter
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Price: | Par
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Payout at maturity: | If final level of lowest-performing component is greater than or equal to barrier level, par; otherwise, full exposure to decline of lowest-performing component
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Call option: | At par on any quarterly contingent payment date
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Initial levels: | 2,764.29 for Euro Stoxx; 984.28 for Russell
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Barrier/coupon barrier levels: | 1,658.57 for Euro Stoxx; 590.57 for Russell; 60% of initial levels
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Pricing date: | May 29
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Settlement date: | June 3
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Agent: | Barclays
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Fees: | 1.55%
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Cusip: | 06741TVY0
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