Published on 10/16/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $836,000 callable contingent coupon notes on indexes, ETF
By Sarah Lizee
Olympia, Wash., Oct. 16 – Barclays Bank plc priced $836,000 of callable contingent coupon notes due Oct. 15, 2024 linked to the least performing of the Russell 2000 index, the S&P 500 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 semiannual coupon at an annual rate of 8.25% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par on any interest payment date beginning after one year.
The payout at maturity will be par unless any underlying asset closes below its 50% trigger level, in which case investors will be exposed to any losses of the worst performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $836,000
|
| Maturity: | Oct. 15, 2024
|
| Coupon: | 8.25% annualized, payable semiannually if each asset closes at or above its 60% coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset falls by more than 60%, in which case 1% loss per 1% decline of worst performing asset
|
| Call option: | At par on any interest payment date beginning after one year
|
| Initial levels: | 40.65 for ETF, 1,479.46 for Russell and 2,919.40 for S&P
|
| Coupon barriers: | 28.46 for ETF, 1,035.62 for Russell and 2,043.58 for S&P; 70% of initial levels
|
| Trigger levels: | 20.33 for ETF, 739.73 for Russell and 1,459.70 for S&P; 50% of initial levels
|
| Pricing date: | Oct. 9
|
| Settlement date: | Oct. 15
|
| Agent: | Barclays
|
| Fees: | 1.125%
|
| Cusip: | 06747NLC6
|
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