Published on 11/7/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $545,000 callable contingent coupon notes on indexes
By Sarah Lizee
Olympia, Wash., Nov. 7 – Barclays Bank plc priced $545,000 of callable contingent coupon notes due Nov. 9, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at an annualized rate of 8.2% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
At Barclays’ option, the notes will be callable in whole at par on any coupon payment date.
If each index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline 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: | Russell 2000, Euro Stoxx 50, Nasdaq-100
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Amount: | $545,000
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Maturity: | Nov. 9, 2023
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Contingent coupon: | 8.2% per year, payable semiannually if each index closes at or above coupon barrier level on the observation date for that period
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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 losses of least-performing index
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Call option: | At par on any coupon payment date
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Initial levels: | 6,937.09 for Nasdaq, 1,547.51 for Russell, 3,217.37 for Stoxx
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Coupon barriers: | 4,855.96 for Nasdaq, 1,083.26 for Russell, 2,252.16 for Stoxx, 70% of initial levels
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Barrier levels: | 4,162.25 for Nasdaq, 928.51 for Russell, 1,930.42 for Stoxx, 60% of initial levels
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Pricing date: | Nov. 5
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Settlement date: | Nov. 9
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Agent: | Barclays
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Fees: | 3.625%
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Cusip: | 06746XXB4
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