Published on 10/17/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4 million callable contingent coupon notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Oct. 17 – Barclays Bank plc priced $4 million of callable contingent coupon notes due Oct. 6, 2028 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 11.5% if each underlying asset closes at or above its coupon barrier level, 70% of its initial price, on the observation date for that period.
The notes will be callable in whole at par on any observation date.
If each asset finishes at or above its barrier level, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index, iShares MSCI Emerging Markets ETF
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| Amount: | $4 million
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| Maturity: | Oct. 6, 2028
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| Contingent coupon: | 11.5% per year, payable quarterly if each underlying asset closes at or above coupon barrier level observation date for that period
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
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| Call option: | Callable at par on any observation date
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| Initial levels: | 1,656.04 for Russell, 3,388.99 for Stoxx and $42.39 for fund
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| Coupon barriers: | 1,159.23 for Russell, 2,372.29 for Stoxx and $29.67 for fund, 70% of initial levels
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| Barriers: | 828.02 for Russell, 1,694.5 for Stoxx and $21.20 for oil fund, 50% of initial levels
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| Pricing date: | Oct. 3
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| Settlement date: | Oct. 9
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| Agent: | Barclays
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| Fees: | 0.55%
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| Cusip: | 06746XTQ6
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