Published on 4/29/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $715,000 callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 29 – Barclays Bank plc priced $750,000 of callable contingent coupon notes due April 30, 2026 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at an annualized rate of 10% if each index closes at or above its coupon barrier level, 72% of its initial level, on the observation date for that quarter.
The notes will be callable at par on any coupon payment date.
If each index finishes at or above its barrier level, 50% of its initial 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
|
| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $715,000
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| Maturity: | April 30, 2026
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| Coupon: | 10% quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| 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
|
| Call option: | At par on any interest payment date
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| Initial levels: | 1,150.73 for Russell, 3,121.29 for Euro Stoxx
|
| Coupon barrier: | 834.28 for Russell, 2,262.94 for Euro Stoxx; 72% of initial levels
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| Barrier levels: | 575.37 for Russell, 1,560.65 for Euro Stoxx; 50% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 29
|
| Agent: | Barclays
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| Fees: | 4%
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| Cusip: | 06741U7D0
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