Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
Barclays plans contingent income callable securities linked to indexes
By Angela McDaniels
Tacoma, Wash., April 24 – Barclays Bank plc plans to price contingent income callable securities due May 4, 2022 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if each index closes at or above its downside threshold level, 70% of its initial index level, on the determination date for that quarter. The contingent coupon rate is expected to be at least 9.4% per year and will be set at pricing.
The notes will be callable at par on any quarterly interest payment date other than the final one.
If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
The notes will price April 28.
The Cusip number is 06741VSQ6.
© 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.