Published on 4/4/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $339,000 callable contingent coupon notes linked to S&P, Russell, EM ETF
By Angela McDaniels
Tacoma, Wash., April 4 – Barclays Bank plc priced $339,000 of callable contingent coupon notes due March 29, 2024 linked to the least performing of the S&P 500 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.
Each quarter, the notes pay a coupon at an annualized rate of 8% if each underlier closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
After one year, the notes are callable at par on any interest payment date.
If each underlier finishes at or above its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing underlier.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underliers: | S&P 500 index, Russell 2000 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $339,000
|
| Maturity: | March 29, 2024
|
| Contingent coupon: | 8% per year, payable quarterly if each underlier closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing underlier
|
| Call option: | After one year, at par on any interest payment date
|
| Initial levels: | 2,818.46 for S&P 500, 1,528.17 for Russell 2000 and $42.66 for ETF
|
| Barrier levels: | 1,972.92 for S&P 500, 1,069.72 for Russell 2000 and $29.86 for ETF, or 70% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | Barclays
|
| Fees: | 4.125%
|
| Cusip: | 06747MFN1
|
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