Published on 6/22/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.73 million callable contingent coupon notes tied to indexes
By Susanna Moon
Chicago, June 22 – Barclays Bank plc priced $3.73 million of callable contingent coupon notes due June 7, 2027 linked to the worst 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 annual rate of 9.6% if each index closes at or above the 70% coupon barrier on the determination date that quarter.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $3.73 million
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| Maturity: | June 7, 2027
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| Coupon: | 9.6% annualized for each quarter that each index closes at or above 70% coupon barrier on observation date for quarter
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| Price: | Par
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| Call option: | At par plus contingent coupon on any interest payment date beginning June 2018
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| Payout at maturity: | Par plus contingent coupon if each index finishes at or above 50% trigger; otherwise, 1% loss for each 1% decline of worst performing index
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| Initial levels: | 3,591.82 for Stoxx, 2,439.07 for S&P and 1,405.387 for Russell
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| Coupon barriers: | 2,514.27 for Stoxx, 1,707.35 for S&P and 983.77 for Russell; 70% of initial levels
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| Trigger levels: | 1,795.91 for Stoxx, 1,219.54 for S&P and 702.70 for Russell; 50% of initial levels
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| Pricing date: | June 2
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| Settlement date: | June 9
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| Agent: | Barclays
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| Fees: | 3.75%
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| Cusip: | 06741VXX5
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