Published on 4/10/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.5 million callable contingent coupon notes on two indexes
By Wendy Van Sickle
Columbus, Ohio, April 10 – Barclays Bank plc priced $2.5 million of 6.1% issuer callable notes due April 8, 2021 linked to the lesser performing of the S&P MidCap 400 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
After six months, the notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes below its barrier value, 65% of its initial level, in which case investors will be exposed to the decline of the lesser-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Issuer callable notes
|
| Underlying indexes: | S&P MidCap 400 and Russell 2000
|
| Amount: | $2,504,000
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| Maturity: | April 8, 2021
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| Contingent coupon: | 6.1% per year, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par, unless either index finishes below barrier level, in which case full exposure to decline of lesser-performing index
|
| Call option: | After six months, at par on any interest payment date
|
| Initial levels: | 1,924.65 for S&P and 1,560.91 for Russell 2000
|
| Barrier levels: | 1,251.02 for S&P and 1,014.59 for Russell 2000; 65% of initial levels
|
| Pricing date: | April 3
|
| Settlement date: | April 8
|
| Agent: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06747MN77
|
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