Published on 11/5/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.21 million contingent income callable notes tied to three indexes
By Susanna Moon
Chicago, Nov. 5 – Barclays Bank plc priced $2.21 million of contingent income callable securities due Nov. 2, 2017 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at an annual rate of 14.3% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.
The notes are callable at par on any determination date other than the final determination date.
The payout at maturity will be par unless any index finishes below its 75% barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income callable securities
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $2,213,000
|
| Maturity: | Nov. 2, 2017
|
| Coupon: | 14.3% annualized, payable quarterly, if each index closes at or above its barrier level on the observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to any losses of worst performing index
|
| Call option: | At par on any quarterly determination date other than final date
|
| Initial levels: | 2,079.36 for S&P, 1,161.863 for Russell, 3,418.23 for Euro Stoxx
|
| Barrier levels: | 75% of initial levels
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 4
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.5%
|
| Cusip: | 06743Q242
|
|
|
|
|
© 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.
