Published on 10/31/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $814,000 callable contingent coupon notes tied to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – Barclays Bank plc priced $814,000 of callable contingent coupon notes due Oct. 31, 2022 linked to the lesser performing of 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 6.25% if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes are callable at par on any interest payment date after the first four dates.
The payout at maturity will be par unless either index finishes below its 75% barrier level, in which case investors will be fully exposed to the decline of the worse 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: | Russell 2000 and S&P 500
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| Amount: | $814,000
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| Maturity: | Oct. 31, 2022
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| Contingent coupon: | 6.25% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that period
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| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of worse performing index
|
| Call option: | At par on any interest payment date after the first four dates
|
| Initial index levels: | 1,497.46 for Russell and 2,560.40 for S&P
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| Coupon barriers: | 1,123.10 for Russell and 1,920.30 for S&P, or 75% of initial levels
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| Barrier levels: | 1,123.10 for Russell and 1,920.30 for S&P, or 75% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | Barclays
|
| Fees: | 4.125%
|
| Cusip: | 06744C7F2
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