Published on 4/18/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $895,000 callable contingent coupon notes on indexes
By Susanna Moon
Chicago, April 18 – Barclays Bank plc priced $895,000 of callable contingent coupon notes due April 18, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon of 8.4% if each underlying index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are callable at par on any interest payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $895,000
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Maturity: | April 18, 2024
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Coupon: | 8.4% quarterly if each index closes at or above barrier level on observation date for that quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless either index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worse performing index
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Call option: | At par on any interest payment date
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Initial levels: | 1,128.59 for Russell, 2,082.78 for S&P
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Barrier levels: | 677.15 for Russell, 1,249.67 for S&P; 60% of initial levels
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Pricing date: | April 14
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Settlement date: | April 19
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Agent: | Barclays
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Fees: | 1.4%
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Cusip: | 06741V2E1
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