Published on 3/12/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.4 million callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 12 – Barclays Bank plc priced $1.4 million of callable contingent coupon notes due March 11, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon of 8.25% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
At Barclays’ option, the notes will be callable in whole at par plus the coupon on any coupon payment date after one year.
If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par plus the coupon.
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
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Euro Stoxx 50
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| Amount: | $1,395,000
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| Maturity: | March 11, 2022
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| Contingent coupon: | 6.85% per year, payable semiannually if each index closes at or above coupon barrier level on the observation date for that period
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above barrier level, par plus coupon; otherwise, exposure to losses of least-performing index
|
| Call option: | At par plus coupon on any coupon payment date after one year
|
| Initial levels: | 2,743.07 for S&P, 1,521.88 for Russell, 3,283.60 for Stoxx
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| Coupon barriers: | 1,920.15 for S&P, 1,065.32 for Russell, 2,298.52 for Stoxx, 70% of initial levels
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| Barrier levels: | 1,920.15 for S&P, 1,065.32 for Russell, 2,298.52 for Stoxx, 70% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 13
|
| Agent: | Barclays
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| Fees: | 2.4%
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| Cusip: | 06747MHN9
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