Published on 3/31/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.87 million 8.7% callable yield notes linked to Canada, Japan ETFs, Russell 2000
By Angela McDaniels
Tacoma, Wash., March 31 - Barclays Bank plc priced $2.87 million of 8.7% callable yield notes due Dec. 2, 2015 linked to the lowest return of the Russell 2000 index, the iShares MSCI Canada exchange-traded fund and the iShares MSCI Japan ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
A knock-in event occurs if any underlying component closes below its knock-in barrier value, 65% of its initial value, on any day during the life of the notes.
The payout at maturity will be par unless a knock-in event occurs and the return of the lowest-performing component is negative, in which case investors will be fully exposed to the decline of the lowest-performing component.
The notes are callable at par on July 2, 2014, Oct. 2, 2014, Jan. 2, 2015, April 1, 2015, July 2, 2015 and Oct. 1, 2015.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable yield notes
|
| Underlyings: | Russell 2000 index, iShares MSCI Canada ETF and iShares MSCI Japan ETF
|
| Amount: | $2,873,000
|
| Maturity: | Dec. 2, 2015
|
| Coupon: | 8.7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying component closes below knock-in barrier during life of notes and return of lowest-performing component is negative, in which case full exposure to decline of lowest-performing component
|
| Call option: | At par on July 2, 2014, Oct. 2, 2014, Jan. 2, 2015, April 1, 2015, July 2, 2015 and Oct. 1, 2015
|
| Initial levels: | 1,151.44 for Russell 2000, $29.23 for Canada ETF and $11.21 for Japan ETF
|
| Knock-in barrier: 748,44 for Russell 2000, $19.00 for Canada ETF and $7.29 for Japan ETF; 65% of initial levels
|
| Pricing date: | March 27
|
| Settlement date: | April 1
|
| Agent: | Barclays
|
| Fees: | None
|
| Cusip: | 06741UAT1
|
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