Published on 5/29/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 range accrual notes tied to Russell, Euro Stoxx
By Susanna Moon
Chicago, May 29 – Barclays Bank plc priced $500,000 of callable range accrual notes due May 29, 2025 linked to Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate of 7.65% for each day that each index closes at or above the 70% coupon barrier level. Interest is payable quarterly.
The payout at maturity will be par unless either index closes below the 50% trigger level, in which case investors will be fully exposed to any losses.
The notes will be callable at par on any interest payment date after one year.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable range accrual notes
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Underlying indexes: | Russell 2000, Euro Stoxx 50
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Amount: | $500,000
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Maturity: | May 29, 2025
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Coupon: | 7.65% annualized for each day that each index closes at or above coupon barrier; payable quarterly
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Price: | Par
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Payout at maturity: | Par unless either index closes below the 50% trigger level, in which case investors will be fully exposed to any losses
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Call option: | At par on any interest payment date beginning April 2016
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Initial index levels: | 1,238.76 for Russell, 3,619.30 for Euro Stoxx
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Coupon barriers: | 867.13 for Russell, 2,533.51 for Euro Stoxx; 70% of initial levels
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Trigger levels: | 619.38 for Russell, 1,809.65 for Euro Stoxx; 50% of initial levels
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Pricing date: | May 26
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Settlement date: | May 29
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Distributor: | Barclays
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Fees: | 4.5%
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Cusip: | 06741UVR2
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