Published on 7/13/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.5 million callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 13 – Barclays Bank plc priced $1.5 million of callable contingent coupon notes due July 6, 2027 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 8.5% if each index closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date.
If each index finishes at or above its 50% barrier level, 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.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
Amount: | $1.5 million
|
Maturity: | July 6, 2027
|
Contingent coupon: | 8.5% per year, payable quarterly if each underlying index closes at or above 60% barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above 50% barrier, par plus final coupon; otherwise, full exposure to losses of worse performing index
|
Call option: | At par on any interest payment date
|
Initial levels: | 1,416.20 for Russell, 3,471.33 for Stoxx, 2,419.70 for S&P
|
Coupon barriers: | 849.72 for Russell, 2,082.80 for Stoxx, 1,451.82 for S&P, 60% of initial levels
|
Barriers: | 708.10 for Russell, 1,735.67 for Stoxx, 1,209.85 for S&P, 50% of initial levels
|
Pricing date: | June 30
|
Settlement date: | July 6
|
Agent: | Barclays
|
Fees: | 2%
|
Cusip: | 06744CAQ4
|
|
© 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.