Published on 1/30/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.04 million callable contingent notes tied to indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – Barclays Bank plc priced $3.04 million of callable contingent coupon notes due Jan. 28, 2026 linked to 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 will pay a monthly coupon at an annualized rate of 9% if each underlying asset closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes will be callable at par on any coupon payment date after six months.
If each underlying asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, 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, Russell 2000 index and iShares MSCI Emerging Markets ETF
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| Amount: | $3.04 million
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| Maturity: | Jan. 28, 2026
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| Coupon: | 9%, payable monthly if each asset closes at or above coupon barrier level on observation date for that period
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any asset finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing asset
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| Call option: | At par on any interest payment date after six months
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| Initial levels: | 1,662.23 for Russell, 3,295.47 for S&P, $44.60 for ETF
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| Coupon barriers: | 1,163.56 for Russell, 2,306.83 for S&P, $31.22 for ETF, 70% of initial levels
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| Barrier levels: | 997.34for Russell, 1,977.28 for S&P; $26.76 for ETF, 60% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | Barclays
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| Fees: | 0.6%
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| Cusip: | 06747P4A4
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