Published on 1/15/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.25 million callable contingent coupon notes linked to indexes, fund
By Susanna Moon
Chicago, Jan. 15 – Barclays Bank plc priced $3.25 million of callable contingent coupon notes due Jan. 17, 2019 linked to the Russell 2000 index, the Euro Stoxx 50 index, the Dow Jones industrial average and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 11.68% if each component closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any component finishes below its 60% barrier level, in which case investors will lose 1.66667% for each 1% decline of the worst performing component.
The notes are callable at par on any interest payment date.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlyings: | Russell 2000, Euro Stoxx 50, Dow Jones industrial average and iShares MSCI Emerging Markets ETF
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| Amount: | $3.25 million
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| Maturity: | Jan. 17, 2019
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| Coupon: | 11.68% annualized, per quarter that each component closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any component finishes below barrier level, in which case 1.66667% loss per 1% drop of worst performing component
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| Call option: | At par on any interest payment date
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| Initial levels: | 1,046.20 for Russell, 3,033.47 for Stoxx, 16,346.45 for Dow and $29.51 for MSCI EM
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| Barrier levels: | 627.72 for Russell, 1,820.08 for Stoxx, 9,807.87 for Dow and $17.71 for MSCI EM; 60% of initial levels
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 15
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| Agent: | Barclays
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| Fees: | 0.25%
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| Cusip: | 06741U3N2
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