Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $715,000 callable contingent coupon notes on Russell, Stoxx
By Kiku Steinfeld
Chicago, Aug. 13 – Barclays Bank plc priced $715,000 of callable contingent coupon notes due July 31, 2029 linked to the least performing of the Russell 2000 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 9% if each underlying asset closes at or above its coupon barrier level, 60% of the initial value, on the related observation date.
The notes will be callable, in whole but not in part, at par plus any coupon on any contingent coupon payment date after three months.
If each asset finishes at or above its 60% barrier level, the payout at maturity will be par plus the contingent coupon. 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
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| Underlying indexes: | Euro Stoxx Banks index, Russell 2000 index
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| Amount: | $715,000
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| Maturity: | July 31, 2029
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| Contingent coupon: | 9% per year, payable each quarter that each underlying asset closes at or above coupon barrier on observation date for that period
|
| Price: | Par
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| Payout at maturity: | If each asset finishes at or above barrier value, par plus coupon; otherwise, full exposure to decline of least-performing asset
|
| Call option: | At par on any contingent coupon payment date after three months
|
| Initial values: | 89.56 for Stoxx, 1,578.97 for Russell
|
| Coupon barriers: | 53.74 for Stoxx, 947.38 for Russell; 60% of initial values
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| Barrier values: | 53.74 for Stoxx, 947.38 for Russell; 60% of initial values
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | Barclays
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| Fees: | 4.5%
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| Cusip: | 06747N4N1
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