Published on 8/28/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.34 million callable contingent coupon notes on Dow, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Aug. 28 – Barclays Bank plc priced $4.34 million of callable contingent coupon equity-linked securities due May 25, 2022, linked to the worst performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 11.75% if each asset closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after three months.
If each asset finishes at or above its final barrier level, 70% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $4,335,000
|
| Maturity: | May 25, 2022
|
| Contingent coupon: | 11.75% per year, payable monthly if each asset closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above final barrier, par plus final coupon; otherwise, full exposure to losses of least-performing asset
|
| Call option: | In whole at par plus any coupon due on any monthly valuation date after three months
|
| Initial levels: | 27,930.33 for Dow, 11,555.16 for Nasdaq and 1,552.48 for Russell
|
| Coupon/final barriers: | 19,551.23 for Dow, 8,088.61 for Nasdaq and 1,086.74 for Russell 70% of initial levels
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 26
|
| Underwriter: | Barclays
|
| Fees: | 0.625%
|
| Cusip: | 06747QF44
|
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