Published on 11/22/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.27 million callable contingent coupon notes linked to Euro Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – Barclays Bank plc priced $2.27 million of callable contingent coupon notes due Nov. 21, 2019 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a semiannual coupon at an annualized rate of 9.5% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that period.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless the final level of the lesser-performing index is less than its barrier level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $2,267,000
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| Maturity: | Nov. 21, 2019
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| Contingent coupon: | 9.5% per year, payable semiannually if each index closes at or above coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless final level of lesser-performing index is less than barrier level, in which case exposure to decline of lesser-performing index from initial level
|
| Call option: | At par on any interest payment date
|
| Initial index levels: | 1,315.64 for Russell 2000 and 3,020.83 for Euro Stoxx 50
|
| Barrier levels: | 920.95 for Russell 2000 and 2,114.58 for Euro Stoxx 50; 70% of initial levels
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| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 28
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06741VDP4
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