Published on 7/31/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $430,000 callable contingent coupon notes tied to Euro Stoxx, Russell
By Toni Weeks
San Luis Obispo, Calif., July 31 – Barclays Bank plc priced $430,000 of callable contingent coupon notes due July 31, 2018 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying index closes at or above the 70% coupon barrier level on a semiannual observation date, the notes will pay a coupon at an annualized rate of 9.5% for that interest period.
The notes will be callable at par on any semiannual observation date.
If each index finishes at or above the 70% barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worst-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $430,000
|
| Maturity: | July 31, 2018
|
| Contingent coupon: | Contingent semiannual coupon of 9.5% per year if each index closes at or above 70% barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than or equal to negative 30%, par plus contingent coupon; if return of either index is less than negative 30%, full exposure to losses of worst-performing index
|
| Call option: | At par on any semiannual observation date
|
| Initial index levels: | 1,224.6 for Russell, 3,554.11 for Euro Stoxx
|
| Barrier levels: | 857.22 for Russell, 2,487.88 for Euro Stoxx; 70% of initial levels
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Agent: | Barclays
|
| Fees: | None
|
| Cusip: | 06741UZK3
|
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