Published on 1/28/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.11 million contingent income callable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 28 – Barclays Bank plc priced $3.11 million of contingent income callable securities due Jan. 30, 2018 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 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 12.55% if each index closes at or above its downside threshold level, 65% of its initial index level, on the determination date for that quarter.
The notes will be callable at par on any quarterly payment date other than the final one.
If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500, Euro Stoxx 50 and Russell 2000
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| Amount: | $3,106,000
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| Maturity: | Jan. 30, 2018
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| Coupon: | 12.55% per year, payable quarterly if each index closes at or above its downside threshold level on determination date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | If each index finishes at or above barrier level, par plus contingent coupon; otherwise, full exposure to any losses of worst performing index
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| Call: | Callable at par on any quarterly payment date other than the final one
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| Initial levels: | 1,906.90 for S&P, 3,001.78 for Stoxx and 1,020.66 for Russell
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| Barrier levels: | 1,239.485 for S&P, 1,951.157 for Stoxx and 663.429 for Russell; 65% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Agent: | Barclays
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 06741U4C5
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