Published on 7/19/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.3 million callable contingent coupon notes tied to S&P 500, Stoxx
New York, July 19 – Barclays Bank plc priced $4.3 million of callable contingent coupon notes due July 19, 2027 linked to the lesser performing of the S&P 500 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 annualized rate of 9% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
After one year, the notes are callable in whole at par on any interest payment date.
If each index finishes at or above its 50% barrier level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will be fully exposed to the decline of the worse performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | S&P 500, Euro Stoxx 50
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Amount: | $4.3 million
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Maturity: | July 19, 2027
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Contingent coupon: | 9% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier, par plus final coupon; otherwise, full exposure to losses of worse performing index
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Call option: | At par on any interest payment date after one year
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Initial levels: | 2,459.27 for S&P 500, 3,525.94 for Euro Stoxx
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Coupon barriers: | 1,721.49 for S&P 500, 2,468.16 for Euro Stoxx; 70% of initial levels
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Barriers: | 1,229.64 for S&P 500, 1,762.97 for Euro Stoxx; 50% of initial levels
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Pricing date: | July 14
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Settlement date: | July 19
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Agent: | Barclays
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Fees: | 1.25%
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Cusip: | 06744CCK5
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