Published on 10/2/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.34 million callable contingent coupon notes on Russell 2000, S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – Barclays Bank plc priced $1.34 million of callable contingent coupon notes due Sept. 30, 2026 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 6.2% if each underlying asset closes at or above its coupon barrier level, 65% of the initial value, on the related observation date.
After six months, the notes will be callable at par plus any coupon due on any coupon payment date other than the final coupon payment date.
If each asset finishes at or above its 65% barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | S&P 500 index, Russell 2000 index
|
Amount: | $1,342,000
|
Maturity: | Sept. 30, 2026
|
Contingent coupon: | 6.2% per year, payable each quarter that each underlying asset closes at or above coupon barrier on observation date for that period
|
Price: | Par
|
Payout at maturity: | If each asset finishes at or above barrier value, par plus any coupon due; otherwise, full exposure to decline of least-performing asset
|
Call option: | After six months at par plus coupon on any coupon payment date other than the final coupon payment date
|
Initial values: | 1,550.65 for Russell 2000, 2,984.87 for S&P 500
|
Coupon barriers: | 1,007.92 for Russell 2000, 1,940.17 for S&P 500, 65% of initial level
|
Barrier values: | 1,007.92 for Russell 2000, 1,940.17 for S&P 500, 65% of initial level
|
Pricing date: | Sept. 25
|
Settlement date: | Sept. 30
|
Agent: | Barclays
|
Fees: | 4%
|
Cusip: | 06747NEU4
|
|
© 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.