Published on 12/30/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $400,000callable contingent coupon notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – Barclays Bank plc priced $400,000 of callable contingent coupon notes due Dec. 31, 2019 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at an annual rate of 10.5% if each index closes at or above its trigger, 70% of its initial level, on the observation date for that period.
The payout at maturity will be par unless either index finishes below its trigger, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are callable in whole but not in part at par on any interest payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000, Euro Stoxx 50
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Amount: | $400,000
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Maturity: | Dec. 31, 2019
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Coupon: | 10.5% annualized, payable each semiannual period that each index closes at or above trigger | on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless either index finishes below trigger, in which case full exposure to loss of worse performing index
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Call option: | At par on any interest payment date beginning in November 2017
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Initial levels: | 1,371.51 for Russell, 3,273.97 for Stoxx
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Trigger levels: | 960.06 for Russell, 2,291.78 for Stoxx; 70% of initial levels
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Pricing date: | Dec. 23
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Settlement date: | Dec. 30
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Agent: | Barclays
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Fees: | 0.25%
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Cusip: | 06741VFG2
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