Published on 7/14/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $755,000 callable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, July 15 – Barclays Bank plc. priced $755,000 of callable contingent coupon notes linked due June 12, 2024 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.15% if all indexes close at or above their coupon barriers, 60% of their initial levels, on the valuation date for that quarter.
The notes are callable after three months, in whole but not in part, at par plus any coupon on any contingent coupon payment date.
The payout at maturity will be par if all three underliers finish at or above their 60% barrier values.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlying assets: | S&P 500, Russell 2000 and Nasdaq-100
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| Amount: | $755,000
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| Maturity: | June 12, 2024
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| Coupon: | 7.15% per year, payable quarterly if each underlying close at or above its coupon barrier on the valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par if all three indexes close above their 60% barrier value; otherwise full exposure to losses of least performing index
|
| Call: | At par plus any coupon after three months at the option of the issuer
|
| Initial levels: | 2,873.34 for S&P, 1,514.39 for Russell 2000 and 7,417.29 for Nasdaq
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| Coupon barrier levels: | 1,724 for S&P, 908.63 for Russell 2000 and 4,450.37 for Nasdaq, 60% of initial levels
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| Barrier values: | 1,724 for S&P, 908.63 for Russell 2000 and 4,450.37 for Nasdaq, 60% of initial levels
|
| Pricing date: | June 7
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| Settlement date: | June 12
|
| Underwriter: | Barclays Capital Inc.
|
| Fees: | 1.75%
|
| Cusip: | 06747MZC3
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