Published on 4/9/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $135,000 callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 9 – Barclays Bank plc priced $135,000 of callable contingent coupon notes due Dec. 29, 2023 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at annual rate of 8% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be callable quarterly at par plus any coupon due on any quarterly call valuation date after six months.
The payout at maturity will be par plus any final coupon due unless any underlier finishes below the 60% downside barrier, in which case investors will lose 1% for each 1% decline of the worst performing underlier 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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| Underliers: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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| Amount: | $135,000
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| Maturity: | Dec. 29, 2023
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| Coupon: | 8%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par
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| Call option: | At par plus any coupon due on any quarterly call valuation date after six months
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| Payout at maturity: | Par plus any coupon if all underlying indexes close above barrier level; otherwise 1% for each 1% decline of worse performing underlier from initial level
|
| Initial levels: | 1,153.1 for Russell, 2,584.59 for S&P, 21,917.16 for Dow
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| Coupon barriers: | 807.17 for Russell, 1,809.21 for S&P, 15,342.01 for Dow; 70% of initial levels
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| Barrier values: | 691.86 for Russell, 1,550.75 for S&P, 13,150.3 for Dow; 60% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 3
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| Agent: | Barclays
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| Fees: | 0.8%
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| Cusip: | 06747PDQ9
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