Published on 12/1/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.95 million callable contingent coupon notes linked to index, fund
By Susanna Moon
Chicago, Dec. 1 – Barclays Bank plc priced $3.95 million of callable contingent coupon notes due Nov. 26, 2018 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 11.5% if each underlying component closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either component finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing component.
The notes are callable at par on any interest payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlyings: | S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF
|
Amount: | $3,953,000
|
Maturity: | Nov. 26, 2018
|
Coupon: | 11.5% annualized per quarter if each component closes at or above barrier level on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless either component finishes below barrier level, in which case full exposure to losses of worse performing index
|
Call option: | At par on any interest payment date
|
Initial levels: | 2,089.17 for S&P, $36.35 for oil fund
|
Barrier levels: | 60% of initial levels
|
Pricing date: | Nov. 20
|
Settlement date: | Nov. 30
|
Agent: | Barclays
|
Fees: | 2.35%
|
Cusip: | 06741UR71
|
|
|
© 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.