By William Gullotti
Buffalo, N.Y., June 12 – Barclays Bank plc priced $4.71 million of callable contingent coupon notes due June 11, 2026 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at an annualized rate of 7.75% if the index closes at or above its coupon barrier level, 50% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any semiannual observation date.
If the notes are not redeemed and the index finishes at or above the 50% final barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the index’s decline from initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying index: | S&P 500 index
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Amount: | $4,711,000
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Maturity: | June 11, 2026
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Contingent coupon: | 7.75% per year, payable semiannually if the 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: | Par plus the final coupon if the index finishes at or above final barrier; otherwise, investors will lose 1% for each 1% decline from initial level
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Call option: | In whole at par plus any coupon due on any semiannual observation date
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Initial levels: | 4,267.52
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Coupon barrier levels: | 2,133.76; 50% of initial levels
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Final barrier levels: | 2,133.76; 50% of initial levels
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Pricing date: | June 7
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Settlement date: | June 12
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Agent: | Barclays
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Fees: | 0.45%
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Cusip: | 06745MGR3
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