Published on 4/23/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $432,000 callable contingent coupon notes ETF, indexes
By Marisa Wong
Morgantown, W.Va., April 23 – Barclays Bank plc priced $432,000 of callable contingent coupon notes due March 29, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at a rate of 9.75% per year if each underlying asset closes at or above its coupon barrier level, 70% of its initial level, on the related quarterly observation date.
After one year, the notes will be callable in whole at par on any contingent coupon payment date.
The payout at maturity will be par unless any underlying asset finishes below its 70% barrier level, in which case investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | S&P 500 index, the Russell 2000 index and iShares MSCI Emerging Markets ETF
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| Amount: | $432,000
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| Maturity: | March 29, 2024
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| Contingent coupon: | 9.75% per year, payable quarterly if each underlying closes at or above coupon barrier on related quarterly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any underlying finishes below final barrier, in which case full exposure to losses of least-performing asset
|
| Call option: | At par on any contingent coupon payment date after one year
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| Initial levels: | 2,834.40 for S&P, 1,539.74 for Russell, $42.92 for EM
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| Coupon barriers: | 1,984.08 for S&P, 1,077.82 for Russell, $30.04 for EM; 70% of initial levels
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| Final barriers: | 1,984.08 for S&P, 1,077.82 for Russell, $30.04 for EM; 70% of initial levels
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Agent: | Barclays
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| Fees: | 1.125%
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| Cusip: | 06747MFQ4
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