Published on 3/27/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.79 million callable contingent coupon notes tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, March 27 – Barclays Bank plc priced $3.79 million of callable contingent coupon securities due Sept. 28, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 7.1% if each index closes at or above its coupon barrier level, 60% of its initial level, on every trading day that quarter.
The notes will be callable in whole at par on any quarterly redemption date.
If each index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon securities
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| Underlying indexes: | S&P 500, Euro Stoxx 50, Russell 2000
|
| Amount: | $3,794,000
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| Maturity: | Sept. 28, 2020
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| Contingent coupon: | 7.1% per year, payable each month that each index closes at or above coupon barrier level every day that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par on any quarterly redemption date
|
| Initial index levels: | 2,588.26 for S&P, 1,510.073 for Russell, 3,298.07 for Stoxx
|
| Coupon barriers: | 1,552.956 for S&P, 906.05 for Russell, 1,978.842 for Stoxx; 60% of initial levels
|
| Barrier levels: | 1,552.956 for S&P, 906.05 for Russell, 1,978.842 for Stoxx; 60% of initial levels
|
| Pricing date: | March 23
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| Settlement date: | March 28
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 06746X2Q5
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