Published on 6/13/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.86 million contingent income callable notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, June 13 – Barclays Bank plc priced $5.86 million of contingent income callable securities due Dec. 12, 2019 linked to the lesser performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.15% if each index closes at or above its 75% downside threshold on each day during that quarter.
The notes are callable at par on any quarterly determination date other than the final date after six months.
If each index finishes at or above its downside threshold, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $5.86 million
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| Maturity: | Dec. 12, 2019
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| Coupon: | 8.15% per year, payable quarterly if each index closes at or above its downside threshold level on each day during that quarter
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, full exposure to decline of worst performing index
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| Call option: | At par on any quarterly determination date other than final date after six months
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| Initial levels: | 1,421.707 for Russell, 2,431.77 for S&P and 3,586.07 for Stoxx
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| Downside thresholds: | 1,066.28 for Russell, 1,823.83 for S&P and 2,689.55 for Stoxx: 75% of initial levels
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| Pricing date: | June 9
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| Settlement date: | June 14
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 06741VYK2
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