New Issue: Barclays sells $3.55 million callable contingent market-linked notes on three indexes

By William Gullotti

Buffalo, N.Y., April 12 – Barclays Bank plc priced $3.55 million of market-linked securities – callable with contingent coupon and contingent downside due March 29, 2028 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.35% if each index closes at or above its 75% coupon threshold on the relevant observation date.

After six months, the notes may be called at par plus any coupon otherwise due on any quarterly valuation date.

The payout at maturity will be par plus the final coupon unless any index finishes below its 75% downside threshold, in which case investors will be fully exposed to the decline of the worst performing index from its initial level.

Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.

Issuer:	Barclays Bank plc
Issue:	Market linked securities – callable with contingent coupon and contingent downside
Underlying indexes:	Russell 2000 index, Dow Jones industrial average, S&P 500 index
Amount:	$3,552,000
Maturity:	March 29, 2028
Coupon:	8.35% annualized, payable quarterly if each index closes at or above coupon threshold on the relevant observation date
Price:	Par
Payout at maturity:	Par plus final coupon unless any index finishes below downside threshold, in which case 1% loss per 1% decline of the worst performing index from its initial level
Call option:	At par plus any coupon otherwise due on any quarterly valuation date after six months
Initial levels:	2,124.547 for Russell, 39,807.37 for Dow, 5,254.35 for S&P
Coupon threshold:	1,593.41025 for Russell, 29,855.5275 for Dow, 3,940.7625 for S&P; 75% of initial levels
Downside threshold:	1,593.41025 for Russell, 29,855.5275 for Dow, 3,940.7625 for S&P; 75% of initial levels
Pricing date:	March 28
Settlement date:	April 2
Agents:	Wells Fargo Securities, LLC and Barclays Capital Inc.
Fees:	2.325%
Cusip:	06745PZ46

© 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.