Published on 3/5/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $307,000 callable contingent coupon notes on Russell, Stoxx, S&P
By Wendy Van Sickle
Columbus, Ohio, March 5 – Barclays Bank plc priced $307,000 of callable contingent coupon notes due Feb. 28, 2028 linked to the least performing index of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 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% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period.
The notes are callable at par plus any coupon on any contingent coupon payment date.
The payout at maturity will be par plus the final contingent coupon, unless any index finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
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, Russell 2000
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| Amount: | $307,000
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| Maturity: | Feb. 28, 2028
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| Contingent coupon: | 8% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
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| Call option: | At par on any contingent coupon payment date
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| Initial index levels: | 3,441.46 for Stoxx, 1,549.19 for Russell, 2,747.3 for S&P
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| Coupon barriers: | 2,064.88 for Stoxx, 929.51 for Russell, 1,648.38 for S&P; 60% of initial levels
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| Barrier levels: | 2,064.88 for Stoxx, 929.51 for Russell, 1,648.38 for S&P; 60% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Barclays
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| Fees: | 3.5%
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| Cusip: | 06744CUZ2
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