Published on 6/9/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.43 million contingent income callable notes tied to three indexes
By Susanna Moon
Chicago, June 9 – Barclays Bank plc priced $2.43 million of contingent income callable securities due June 1, 2022 linked to the lesser performing of the Euro Stoxx 50 index, the MSCI Emerging Markets index and the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.75% if each index closes at or above its 70% downside threshold on the observation date for that quarter.
The notes are callable at par on any quarterly determination date other than the final date after six months.
If each index finishes at or above its 70% downside threshold, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Euro Stoxx 50, MSCI Emerging Markets and the Nikkei 225
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| Amount: | $2,425,000
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| Maturity: | June 1, 2022
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| Coupon: | 9.75% per year, payable quarterly if each index closes at or above its downside threshold on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, full exposure to decline of worst performing index
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| Call option: | At par on any quarterly determination date other than final date after six months
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| Initial levels: | 1,017.00 for MSCI EM and 19,686.84 for Nikkei and 3,579.02 for Stoxx
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| Downside thresholds: | 711.90 for MSCI EM and 13,780.788 for Nikkei and 2,505.314 for Stoxx; 70% of initial levels
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 06741VWM0
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