Published on 6/30/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.64 million of callable contingent coupon notes on indexes
By Devika Patel
Knoxville, Tenn., June 30 – Barclays Bank plc priced $2.64 million of callable contingent coupon notes due June 30, 2022 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 6.25% if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The notes are callable in whole but not in part, at par plus any coupon on any interest payment date beginning on June 27, 2018.
The payout at maturity will be par unless any index finishes below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000, S&P 500
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| Amount: | $2,636,000
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| Maturity: | June 30, 2022
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| Coupon: | 6.25% annualized, per quarter that each index closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call option: | At par plus any coupon on any interest payment date beginning June 27, 2018
|
| Initial levels: | 1,403.52 for Russell, 2,419.38 for S&P
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| Barrier levels: | 912.29 for Russell, 1,572.6 for S&P; 65% of initial levels
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| Coupon barrier levels: | 912.29 for Russell, 1,572.6 for S&P; 65% of initial levels
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agent: | Barclays
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| Fees: | 4.125%
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| Cusip: | 06741VWT5
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