Published on 2/26/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.37 million barrier dual range accrual notes tied to two indexes
By Marisa Wong
Madison, Wis., Feb. 26 - Barclays Bank plc priced $6.37 million of callable barrier dual range accrual notes due Feb. 26, 2024 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon equal to 9.2% per year multiplied by the proportion of days on which each index closes at or above its accrual barrier level, 75% of its initial level.
The payout at maturity will be par unless either index finishes below its knock-in barrier level, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index.
Beginning Feb. 23, 2015, the notes will be callable at par on any interest payment date.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable barrier dual range accrual notes
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50
|
| Amount: | $6,365,000
|
| Maturity: | Feb. 26, 2024
|
| Coupon: | 9.2% per year multiplied by proportion of days on which each index closes at or above its accrual barrier level
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless either index finishes below its knock-in barrier level, in which case investors will be fully exposed to decline of lesser performing index
|
| Call option: | At par on any interest payment date beginning Feb. 23, 2015
|
| Initial levels: | 3,131.67 for Euro Stoxx, 1,164.63 for Russell
|
| Accrual barrier levels: | 2,348.75 for Euro Stoxx, 873.47 for Russell
|
| Knock-in levels: | 1,565.84 for Euro Stoxx, 582.32 for Russell
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Agent: | Barclays
|
| Fees: | 3.25%
|
| Cusip: | 06741T5X1
|
© 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.
