Published on 12/26/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $181,000 callable contingent coupon notes on indexes
By Devika Patel
Knoxville, Tenn., Dec. 26 – Barclays Bank plc priced $181,000 of callable contingent coupon notes due Dec. 26, 2028 linked to the least performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 9% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date beginning on March 27, 2019.
The payout at maturity will be par unless the final level of the least performing index is less than its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least performing index from its initial level.
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 and Nasdaq-100
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Amount: | $181,000
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Maturity: | Dec. 26, 2028
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Contingent coupon: | 9% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless final level of least performing index is less than barrier level, in which case 1% loss for each 1% decline of least performing index from initial level
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Call option: | At par on any coupon payment date beginning on March 27, 2019
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Initial index levels: | 1,326 for Russell 2000 and 6,243.20 for Nasdaq-100
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Coupon barrier levels: | 994.50 for Russell 2000 and 4,682.40 for Nasdaq-100; 75% of initial levels
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Barrier levels: | 795.60 for Russell 2000 and 3,745.92 for Nasdaq-100; 60% of initial levels
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Pricing date: | Dec. 20
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Settlement date: | Dec. 26
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Agent: | Barclays
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Fees: | 4.5%
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Cusip: | 06747M2N5
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