Published on 5/6/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.55 million callable contingent payment notes linked to three indexes
By Toni Weeks
San Luis Obispo, Calif., May 6 – Barclays Bank plc priced $4.55 million of callable contingent payment notes due May 9, 2018 linked to the least performing of the S&P 500 index, Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.3% if each underlying index closes at or above its barrier level, 65% of the initial level, on a valuation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless any index finishes below the 65% barrier level, in which case investors will be fully exposed to any losses of the worst-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent payment notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $4,552,000
|
| Maturity: | May 9, 2018
|
| Coupon: | 9.3% per year, payable quarterly if each index closes at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to decline of worst performing index
|
| Call option: | At par on any interest payment date
|
| Initial index levels: | 2,114.49 for S&P, 1,233.22 for Russell, 3,632.94 for Euro Stoxx
|
| Barrier levels: | 1,374.42 for S&P, 801.59 for Russell, 2,361.41 for Euro Stoxx; 65% of initial levels
|
| Pricing date: | May 4
|
| Settlement date: | May 7
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741UVJ0
|
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