Published on 2/23/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.72 million callable contingent coupon notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – Barclays Bank plc priced $1.72 million of callable contingent coupon notes due Feb. 22, 2024 linked to the least performing index of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, 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% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes are callable at par plus any coupon on any contingent coupon payment date after the eighth date.
The payout at maturity will be par plus the final contingent coupon, if any, unless any index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average, S&P 500, Russell 2000
|
| Amount: | $1,724,000
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| Maturity: | Feb. 22, 2024
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| Contingent coupon: | 8% per year, payable semiannually if each index closes at or above coupon barrier level on observation date for that period
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| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par on any contingent coupon payment date after the eighth date
|
| Initial index levels: | 2,732.22 for S&P, 25,219.38 for Dow, 1,543.55 for Russell
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| Coupon barriers: | 1,912.55 for S&P, 17,653.57 for Dow, 1,080.49 for Russell; 70% of initial levels
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| Barrier levels: | 1,912.55 for S&P, 17,653.57 for Dow, 1,080.49 for Russell; 70% of initial levels
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 26
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| Agent: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06744CSG7
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