Published on 7/5/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.49 million contingent income autocallables tied to indexes
By Wendy Van Sickle
Columbus, Ohio, July 5 – Barclays Bank plc priced $3.49 million of contingent income autocallable securities due July 1, 2022 linked to the least performing of Nikkei 225 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.35% if each index closes at or above the 70% downside threshold on the determination date that quarter.
After six months, he notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date other than the final determination date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Nikkei 225, Russell 2000 and Euro Stoxx 50
|
| Amount: | $3,485,000
|
| Maturity: | July 1, 2022
|
| Coupon: | 8.35% annualized for each quarter that each index closes at or above downside threshold on observation date for quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each index finishes at or above 70% downside threshold; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | After six months at par plus contingent payment if each index closes at or above initial level on any quarterly determination dates other than the final determination date
|
| Initial index levels: | 20,130.41 for Nikkei, 1,425.269 for Russell, 3,535.70 for Stoxx
|
| Downside threshold: | 14,091.287 for Nikkei, 997.688 for Russell and 2,474.990 for Stoxx; 70% of initial levels
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Agent: | Barclays with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 3%
|
| Cusip: | 06741VZB1
|
|
|
© 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.
