Published on 3/11/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $116,000 callable contingent coupon notes on S&P, Russell
Chicago, March 11 – Barclays Bank plc priced $116,000 of callable contingent coupon notes due Feb. 27, 2029 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 4.95% if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that period.
At Barclays’ option, after one year the notes will be callable in whole at par plus any coupon on any coupon payment date prior to maturity.
If the notes are not redeemed early, the payout at maturity will be par plus any coupon due.
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
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Amount: | $116,000
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Maturity: | Feb. 27, 2029
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Contingent coupon: | 4.95% per year, payable quarterly 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 plus any coupon on any coupon payment date prior to maturity after one year
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Initial levels: | 2,792.38 for S&P and 1,581.05 for Russell
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Coupon barriers: | 2,233.90 for S&P and 953.29 for Russell; 80% of initial levels
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Pricing date: | Feb. 27
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Settlement date: | March 4
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Agent: | Barclays
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Fees: | 4%
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Cusip: | 06747MEU6
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