Published on 5/9/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.9 million callable range accrual notes on indexes
New York, May 9 – Barclays Bank plc priced $1.9 million of callable range accrual notes due May 10, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.25% for each day that all the indexes close at or above their coupon barrier levels, which is 70% of the initial level. Interest is payable quarterly.
The payout at maturity will be par unless the least performing index falls below its 50% barrier level, in which case investors will be fully exposed to the loss of the least performing index.
The notes will be callable at par on any interest payment date starting in November 2017.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Callable range accrual notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $1.9 million
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| Maturity: | May 10, 2022
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| Coupon: | 7.25% annualized for each day that all indexes are above 70% coupon barrier; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless least performing index falls below 50% barrier, in which case exposure to losses of least performing index
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| Call option: | At par on any interest payment date beginning in November 2017
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| Initial levels: | 2,399.29 for S&P 500, 1,379.00 for Russell 2000, 3,658.79 for Euro Stoxx 50
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| Coupon barriers: | 1,679.50 for S&P 500, 977.90 for Russell 2000, 2,561.15 for Euro Stoxx 50; 70% of initial level
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| Barriers: | 1,199.65 for S&P 500, 698.50 for Russell 2000, 1,829.40 for Euro Stoxx 50; 50% of initial level
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| Pricing date: | May 5
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| Settlement date: | May 10
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| Underwriter: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741VUU4
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