Published on 11/16/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $55,000 7.75% contingent coupon callables tied to Russell, S&P, Dow
By Susanna Moon
Chicago, Nov. 16 – Barclays Bank plc priced $55,000 of callable contingent coupon notes due Oct. 31, 2023 linked to the lesser performing of the Russell 2000 index, the S&P 500 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 annual rate of 7.75% 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: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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| Amount: | $55,000
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| Maturity: | Oct. 31, 2023
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| Coupon: | 7.75% 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 60%, 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 observation date
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| Initial levels: | 2,711.74 for S&P, 1,511.41 for Russell and 25,115.76 for Dow
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| Coupon barriers: | 1,898.22 for S&P, 1,057.99 for Russell and 17,580.92 for Dow, 70% of initial levels
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| Trigger levels: | 1,627.04 for S&P, 906.85 for Russell and 15,069.46 for Dow, 60% of initial levels
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 5
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| Agent: | Barclays
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| Fees: | 1.125%
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| Cusip: | 06746XTH6
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