Published on 10/29/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.5 million callable contingent coupon notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Oct. 29 – Barclays Bank plc priced $1.5 million of callable contingent coupon notes due Oct. 31, 2018 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 11% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The notes are callable at par on any quarterly observation date.
If each index finishes at or above its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $1.5 million
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Maturity: | Oct. 31, 2018
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Contingent coupon: | 11% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | If return of each index is greater than or equal to negative 30%, par; otherwise, full exposure to losses of lesser-performing index
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Call option: | At par on any quarterly observation date
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Initial index levels: | 1,159.50 for Russell 2000 and 3,414.60 for Euro Stoxx 50
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Barrier levels: | 811.65 for Russell 2000 and 2,390.22 for Euro Stoxx 50; 70% of initial levels
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Pricing date: | Oct. 26
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Settlement date: | Oct. 29
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Agent: | Barclays
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Fees: | 2.5%
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Cusip: | 06741UN67
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