Published on 12/18/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $690,000 contingent coupon callables on indexes
By Tali Rackner
Minneapolis, Dec. 18 – Barclays Bank plc priced $690,000 of callable contingent coupon notes due Dec. 2, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 6.75% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any index finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the least-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: | S&P 500, Russell 2000 and Dow Jones industrial average
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Amount: | $690,000
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Maturity: | Dec. 2, 2022
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Coupon: | 6.75% per year, payable quarterly if each index closes at or above 70% coupon barrier on determination date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to decline of least-performing index
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Call option: | At par on any interest payment date
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Initial levels: | 2,626.77 for S&P, 1,542.30 for Russell and 23,940.68 for Dow Jones
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Barrier levels: | 1,575.64 for S&P, 925.38 for Russell and 14,364.41 for Dow Jones; 60% of initial levels
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Coupon barrier levels: | 1,838.25 for S&P, 1,079.61 for Russell and 16,758.48 for Dow Jones; 70% of initial levels
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Pricing date: | Nov. 29
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Settlement date: | Dec. 4
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Agent: | Barclays
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Fees: | 1.075%
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Cusip: | 06744CMU2
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