Published on 4/27/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $650,000 callable contingent coupon notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 27 – Barclays Bank plc priced $650,000 of callable contingent coupon notes due April 24, 2020 linked to the least performing of the Russell 2000 index, the MSCI Emerging Markets 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 8.1% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date.
The payout at maturity will be par unless the final level of the least performing index is less than its barrier level, in which case investors will lose 1% for each 1% decline of the least performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000, MSCI Emerging Markets and Euro Stoxx 50
|
| Amount: | $650,000
|
| Maturity: | April 24, 2020
|
| Contingent coupon: | 8.1% 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 of least performing index
|
| Call option: | At par on any coupon payment date
|
| Initial index levels: | 1,379.85 for Russell, 961.78 for MSCI Emerging Markets and 3,440.27 for Stoxx
|
| Barrier levels: | 872.91 for Russell, 577.07 for MSCI Emerging Markets and 2,064.16 for Stoxx; 60% of initial levels
|
| Pricing date: | April 21
|
| Settlement date: | April 26
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741VSK9
|
|
|
© 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.
