Published on 2/6/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.3 million callable contingent coupon notes on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – Barclays Bank plc priced $5.3 million of callable contingent coupon notes due Feb. 3, 2025 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 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 8.1% if each index closes at or above its 70% coupon barrier level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any coupon payment date after six months.
The payout will be par plus the final coupon, if any, unless any index finishes below its barrier level, 60% of the initial level, in which case investors will be fully exposed to the decline of the least performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Nasdaq-100, Russell 2000, Dow Jones industrial average
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| Amount: | $5,298,000
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| Maturity: | Feb. 3, 2025
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| Contingent coupon: | 8.1% per year, payable quarterly if each index closes at or above coupon barrier level on determination date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless least performing index finishes below barrier level, in which case full exposure to decline of least performing index
|
| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date after six months
|
| Initial index levels: | 28,734.45 for Dow, 1,649.22 for Russell, 9,101.61 for Nasdaq
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| Coupon barriers: | 20,114.12 for Dow, 1,154.45 for Russell, 6,371.13 for Nasdaq, 70% of initial levels
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| Barriers: | 17,240.67 for Dow, 989.53 for Russell, 5,460.97 for Nasdaq, 60% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | Barclays
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| Fees: | 0.35%
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| Cusip: | 06747P4M8
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