Published on 4/17/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.54 million 10% contingent coupon callables on indexes
By Susanna Moon
Chicago, April 17 – Barclays Bank plc priced $2.54 million of callable contingent coupon notes due April 11, 2023 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 annual rate of 10% if each underlying asset 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 after one year.
The payout at maturity will be par unless any underlying asset closes below its 60% trigger level, in which case investors will be exposed to any losses 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: | S&P 500, Euro Stoxx 50 and Russell 2000
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| Amount: | $2,541,000
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| Maturity: | April 11, 2023
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| Coupon: | 10% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 40%, in which case 1% loss per 1% decline of worst performing index
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| Call option: | At par on any interest payment date beginning with the fourth date
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| Initial levels: | 2,604.47 for S&P, 1,513.30 for Russell and 3,408.10 for Stoxx
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| Coupon barriers: | 1,823.13 for S&P, 2,385.67 for Russell and 2,385.67 for Stoxx; 70% of initial levels
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| Trigger levels: | 1,562.68 for S&P, 2,044.86 for Russell and 2,044.86 for Stoxx; 60% of initial levels
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| Pricing date: | April 6
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| Settlement date: | April 11
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| Agent: | Barclays
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| Fees: | 1.125%
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| Cusip: | 06746X3L5
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