Published on 7/11/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 contingent coupon callables on Russell, Stoxx
By Susanna Moon
Chicago, July 11 – Barclays Bank plc priced $500,000 of contingent coupon callable notes due June 30, 2022 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon an annual rate of 8.25% if each index closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be callable at par on any interest payment date beginning December 2017.
The payout at maturity will be par unless either index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Contingent coupon callable notes
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Underlying indexes: | Russell 2000 index and Euro Stoxx 50 index
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Amount: | $500,000
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Maturity: | June 30, 2022
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Coupon: | 8.25% per year, payable monthly, if each index at or above 70% coupon barrier on observation date for month
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Price: | Par
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Call option: | At par on any interest payment date beginning December 2017
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Payout at maturity: | Par unless either index finishes below 70% barrier, in which case 1% loss for each 1% decline of worse performing index
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Initial levels: | 3,538.20 for Stoxx and 1,403.52 for Russell
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Barrier levels: | 2,476.74 for Stoxx and 982.46 for Russell; 70% of initial levels
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | Barclays
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Fees: | 4.125%
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Cusip: | 06741VXD9
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