Published on 5/19/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $365,000 callable contingent coupon notes on Stoxx, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, May 19 – Barclays Bank plc priced $365,000 of callable contingent coupon notes due May 19, 2022 linked to the least performing 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 annual rate of 11% if each underlier closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly call valuation date.
The payout at maturity will be par plus any final coupon due unless any underlier finishes below its 60% 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: | S&P 500 index, Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $365,000
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| Maturity: | May 19, 2022
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| Coupon: | 11%, payable quarterly if each underlier closes at or above coupon barrier on observation date
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| Price: | Par
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| Call option: | At par plus any coupon due on any quarterly call valuation date
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| Payout at maturity: | Par plus any coupon if all indexes close above barrier level; otherwise 1% for each 1% decline of worse performing underlier from initial level
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| Initial levels: | 2,836.7 for S&P, 2,770.7 for Stoxx, and 1,256.99 for Russell
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| Coupon barriers: | 1,718.22 for S&P, 1,662.42 for Stoxx and 754.19 for Russell, 60% of initial levels
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| Barrier values: | 1,718.22 for S&P, 1,662.42 for Stoxx and 754.19 for Russell, 60% of initial levels
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Agent: | Barclays
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| Fees: | 0%
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| Cusip: | 06747PSK6
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