Published on 2/4/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $24.62 million contingent income callable notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 4 – Barclays Bank plc priced $24.62 million of contingent income callable securities due Aug. 3, 2023 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if each index closes at or above its coupon barrier, 75% of its initial level, on every day that quarter.
The notes are callable at par on any quarterly coupon payment date other than the final one.
If each index finishes at or above its downside threshold level, 75% of its initial level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to decline of the least-performing index from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Barclays Bank plc
|
Issue: | Contingent income callable securities
|
Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
|
Amount: | $24,623,000
|
Maturity: | Aug. 3, 2023
|
Coupon: | 10% per year, payable quarterly if each index closes at or above coupon barrier on every day that quarter
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above downside threshold level, par; otherwise, full exposure to least-performing index’s decline from initial level
|
Call option: | Callable at par on any quarterly coupon payment date other than final one
|
Initial levels: | 1,614.061 for Russell, 3,640.91 for Stoxx, 3,225.52 for S&P
|
Coupon barriers: | 1,210.546 for Russell, 2,730.683 for Stoxx, 2,419.14 for S&P, or 75% of initial levels
|
Downside threshold levels: | 997.339 for Russell, 2,267.496 for Stoxx, 1,977.282 for S&P, or 60% of initial levels
|
Pricing date: | Jan. 31
|
Settlement date: | Feb. 5
|
Agent: | Barclays
|
Selected dealer: | Morgan Stanley Wealth Management
|
Fees: | 2.383%
|
Cusip: | 06747P4T3
|
|
© 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.