Published on 1/21/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $725,000 callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 21 – Barclays Bank plc priced $725,000 of callable contingent coupon notes due Jan. 22, 2025 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 5.35% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
After one year, the notes will be callable in whole at par plus any coupon due on any quarterly call valuation date.
If each index finishes at or above its final barrier level, 60% of its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to the decline of the least-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: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $725,000
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| Maturity: | Jan. 22, 2025
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| Contingent coupon: | 5.35% per year, payable quarterly when each index closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above final barrier, par plus the coupon; otherwise, full exposure to losses of least-performing index
|
| Call option: | After a year in whole at par plus any coupon due on any quarterly call valuation date
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| Initial levels: | 29,297.64 for Dow, 9,125.00 for Nasdaq, 1,705.22 for Russell
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| Coupon barriers: | 20,508.35 for Dow, 6,387.5 for Nasdaq, 1,193.65 for Russell; 70% of initial levels
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| Final barriers: | 17,578.58 for Dow, 5,475.0 for Nasdaq, 1,023.13 for Russell; 60% of initial levels
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 22
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| Agent: | Barclays
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| Fees: | 4.025%
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| Cusip: | 06747P3M9
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