Published on 3/29/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $760,000 callable contingent coupon notes tied to two indexes
By Wendy Van Sickle
Columbus, Ohio, March 29 – Barclays Bank plc priced $760,000 of callable contingent coupon notes due March 30, 2028 linked to the least performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 10% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date that quarter.
The notes will be callable in whole at par on any quarterly redemption date.
If each index 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 index.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | Russell 2000, Euro Stoxx 50
|
Amount: | $760,000
|
Maturity: | March 30, 2028
|
Contingent coupon: | 10% per year, payable each quarter that each index closes at or above coupon barrier level observation date that quarter
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
|
Call option: | At par on any quarterly redemption date
|
Initial index levels: | 1,543.717 for Russell, 3,278.72 for Stoxx 50
|
Coupon barriers: | 1,157.79 for Russell, 2,459.04 for Stoxx 50; 75% of initial levels
|
Barrier levels: | 926.23 for Russell, 1,967.23 for Stoxx 50; 60% of initial levels
|
Pricing date: | March 26
|
Settlement date: | March 29
|
Agent: | Barclays
|
Fees: | 4.5%
|
Cusip: | 06744CZ87
|
|
© 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.