Published on 4/1/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.92 million callable contingent coupon notes on Stoxx Banks, Russell
Chicago, April 1 – Barclays Bank plc priced $5.92 million of callable contingent coupon notes due March 29, 2029 linked to the least performing of the Russell 2000 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 10.15% if each index closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
After six months, the notes will be callable in whole at par plus any coupon on any coupon payment date prior to maturity.
The payout at maturity will be par plus the final contingent coupon unless any index finishes below its barrier level, 60% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000, Euro Stoxx Banks
|
| Amount: | $5,921,000
|
| Maturity: | March 29, 2029
|
| Contingent coupon: | 10.15% per year, payable quarterly if each index closes at or above coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final contingent coupon unless any index finishes below its barrier level, 60% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level
|
| Call option: | At par plus any coupon on any coupon payment date prior to maturity after six months
|
| Initial levels: | 1.528.17 for Russell and 91.75 for Stoxx Banks
|
| Barrier levels: | 916.90 for Russell and 55.05 for Stoxx Banks; 60% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | Barclays
|
| Fees: | 4.5%
|
| Cusip: | 06747MG83
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
