Published on 12/21/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million callable contingent coupon notes on indexes
By Devika Patel
Knoxville, Tenn., Dec. 20 – Barclays Bank plc priced $2 million of callable contingent coupon notes due Dec. 21, 2026 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 10.3% if each index closes at or above its barrier level, 55% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date other than the final date.
The payout at maturity will be par unless the final level of the least performing index is less than its 55% barrier level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
|
Amount: | $2 million
|
Maturity: | Dec. 21, 2026
|
Contingent coupon: | 10.3% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
Price: | Par of $1,000
|
Payout at maturity: | Par unless final level of least performing index is less than barrier level, in which case 1% loss for each 1% decline
|
Call option: | At par on any coupon payment date other than the final date
|
Initial index levels: | 1,366.41 for Russell 2000, 2,262.03 for S&P 500 and 3,249.74 for Euro Stoxx 50
|
Barrier levels: | 751.53 for Russell 2000, 1,244.12 for S&P 500 and 1,787.36 for Euro Stoxx 50; 55% of initial levels
|
Pricing date: | Dec. 16
|
Settlement date: | Dec. 21
|
Agent: | Barclays
|
Fees: | 1.03%
|
Cusip: | 06741VFR8
|
|
|
© 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.