Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.82 million callable contingent coupon notes on indexes, fund
By Sarah Lizee
Olympia, Wash., Aug. 8 – Barclays Bank plc priced $1.82 million of callable contingent coupon notes due Aug. 10, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date beginning after six months.
The payout at maturity will be par unless any underlying asset closes below its 55% trigger level, in which case investors will be exposed to any losses of the worst performing index or fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | S&P 500 index, Russell 2000 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $1.82 million
|
| Maturity: | Aug. 10, 2022
|
| Coupon: | 8% annualized, payable quarterly if each asset closes at or above its 70% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset falls by more than 55%, in which case 1% loss per 1% decline of worst performing index or fund
|
| Call option: | At par on any interest payment date beginning after six months
|
| Initial levels: | 2,932.05 for S&P, 1,533.66 for Russell and $40.55 for fund
|
| Coupon barriers: | 2,052.44 for S&P, 1,073.56 for Russell and $28.39 for fund; 70% of initial levels
|
| Trigger levels: | 1,612.63 for S&P, 843.51 for Russell and $22.30 for fund 55% of initial levels
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 8
|
| Agent: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06747NCJ1
|
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