Published on 3/15/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.35 million callable contingent coupon notes on S&P, Russell, Nasdaq
Chicago, March 16 – Barclays Bank plc priced $5.35 million of callable contingent coupon notes due March 3, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 11% if each index closes at or above its coupon barrier value, 75% of its initial level, on the observation date for that period.
The notes are callable at par plus any coupon due on any coupon payment date after three months.
If the notes are not called and each index finishes at or above its barrier value, 75% of its initial level, the payout at maturity will be par plus any coupon. 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 notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $5,350,000
|
| Maturity: | March 3, 2022
|
| Contingent coupon: | 11% initially, payable quarterly if each index closes at or above coupon barrier value on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier value, par plus any coupon; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par plus any coupon due on any coupon payment date after three months
|
| Initial levels: | 2,954.22 for S&P, 1,476.43 for Russell, 8,461.84 for Nasdaq
|
| Coupon barriers: | 2,215.67 for S&P, 1,107.32 for Russell, 6,346.38 for Nasdaq; 75% of initial levels
|
| Barrier values: | 2,215.67 for S&P, 1,107.32 for Russell, 6,346.38 for Nasdaq; 75% of initial levels
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 4
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06747PD97
|
|
|
© 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.
