Published on 4/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $951,000 callable contingent coupon notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, April 30 – Barclays Bank plc priced $951,000 of callable contingent coupon notes due April 30, 2029 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 10% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
After six months, the notes are callable at par on any interest payment date.
If each index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-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 and Euro Stoxx Banks
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Amount: | $951,000
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Maturity: | April 30, 2029
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Contingent coupon: | 10% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
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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 lesser-performing index
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Call option: | After six months, at par on any interest payment date
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Initial levels: | 1,575.61 for Russell 2000 and 99.45 for Stoxx Banks
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Coupon barriers: | 945.37 for Russell 2000 and 59.67 for Stoxx Banks, or 60% of initial levels
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Barrier levels: | 945.37 for Russell 2000 and 59.67 for Stoxx Banks, or 60% of initial levels
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | Barclays
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Fees: | 4.5%
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Cusip: | 06747MMA1
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