Published on 2/21/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $15 million review notes linked to three indexes
By Marisa Wong
Morgantown, W.Va., Feb. 21 – Barclays Bank plc priced $15 million of 0% review notes due Feb. 20, 2020 linked to the least-performing of the Russell 2000 index, S&P 500 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on any annual review date other than the final review date or the final level of each index is at or above the 75% barrier level, the notes will be automatically called at par plus a call premium of 12.81% per year.
If the notes are not called, the payout at maturity will be par plus the return of the least performing index, with full exposure to losses.
Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Barclays Bank plc
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| Issue: | Review notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $15 million
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| Maturity: | Feb. 20, 2020
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus the return of the least performing index, with full exposure to losses
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| Call: | Automatically at par plus call premium of 12.81% per year if each index closes at or above its initial level on any annual review date other than the final review date or the final level of each index is at or above the barrier level
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| Initial levels: | 1,396.651 for Russell, 2,337.58 for S&P, 3,308.89 for Stoxx
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| Barrier levels: | 1,047.488 for Russell, 1,753.19 for S&P, 2,481.67 for Stoxx; 75% of initial levels
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 17
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| Underwriter: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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| Fees: | 1.5%
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| Cusip: | 06741VKT8
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