Published on 8/15/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.31 million callable contingent coupon notes on indexes, gold trust
By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – Barclays Bank plc priced $2.31 million of callable contingent coupon notes due Aug. 14, 2024 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the SPDR Gold trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date beginning after six months.
The payout at maturity will be par unless any underlying asset closes below its 60% trigger level, in which case investors will be exposed to any losses of the worst 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: | Nasdaq-100 index, Dow Jones industrial average and SPDR Gold trust
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Amount: | $2,309,000
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Maturity: | Aug. 14, 2024
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Coupon: | 7% annualized, payable quarterly if each asset closes at or above its 60% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any asset falls by more than 60%, in which case 1% loss per 1% decline of worst performing asset
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Call option: | At par on any interest payment date beginning after six months
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Initial levels: | 7,646.27 for Nasdaq-100, 26,287.44 for Dow and $141.26 for gold trust
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Coupon barriers: | 4,587.76 for Nasdaq-100, 15,772.46 for Dow and $84.76 for gold trust; 60% of initial levels
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Trigger levels: | 4,587.76 for Nasdaq-100, 15,772.46 for Dow and $84.76 for gold trust; 60% of initial levels
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Pricing date: | Aug. 9
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Settlement date: | Aug. 14
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Agent: | Barclays
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Fees: | 0.875%
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Cusip: | 06747NCD4
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