Published on 7/14/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $723,000 callable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, July 15 – Barclays Bank plc priced $723,000 of callable contingent coupon notes due March 31, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 7.5% if each index closes at or above its coupon barrier level, 70% of the initial value, on the related quarterly observation date.
The notes will be callable in whole at par on any contingent coupon payment date after six months.
If each index finishes at or above its 60% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
|
Amount: | $723,000
|
Maturity: | March 31, 2023
|
Contingent coupon: | 7.5% per year, payable each quarter that each underlying asset closes at or above coupon barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | If each asset finishes at or above barrier value, par; otherwise, full exposure to decline of least-performing asset
|
Call option: | At par on any contingent coupon payment date after six months
|
Initial values: | 2,941.76 for S&P, 1,566.57 for Russell, 26,599.96 for Dow
|
Coupon barriers: | 2,059.23 for S&P, 1,096.60 for Russell, 18,619.97 for Dow; 70% of initial values
|
Barrier values: | 1,765.06 for S&P, 939.94 for Russell, 15,959.98 for Dow; 60% of initial values
|
Pricing date: | June 28
|
Settlement date: | July 3
|
Agent: | Barclays Capital Inc.
|
Fees: | 0.375%
|
Cusip: | 06747MX35
|
|
© 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.