Published on 6/25/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.14 million callable contingent coupon notes on Russell, Stoxx
By Sarah Lizee
Olympia, Wash., June 25 – Barclays Bank plc priced $1.14 million of callable contingent coupon notes due June 24, 2022 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at an annualized rate of 8.25% if each underlying asset closes at or above its coupon barrier level, 70% of the initial value, on the related observation date.
The notes will be callable in whole at par on any contingent coupon payment date after six months.
If each asset finishes at or above its 70% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index
|
| Amount: | $1,135,000
|
| Maturity: | June 24, 2022
|
| Contingent coupon: | 8.25% per year, payable each six months that each underlying asset closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above barrier value, par; otherwise, full exposure to decline of least-performing asset
|
| Call option: | At par on any contingent coupon payment date after six months
|
| Initial values: | 3,466.92 for Stoxx, 1,549.63 for Russell
|
| Coupon barriers: | 2,426.84 for Stoxx, 1,084.74 for Russell; 70% of initial values
|
| Barrier values: | 2,426.84 for Stoxx, 1,084.74 for Russell; 70% of initial values
|
| Pricing date: | June 21
|
| Settlement date: | June 28
|
| Agent: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06747MXZ4
|
© 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.
