Published on 4/2/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.1 million callable contingent coupon notes on indexes
By Sarah Lizee
Olympia, Wash., April 2 – Barclays Bank plc priced $2.1 million of callable contingent coupon notes due March 28, 2030 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at annual rate of 8% if each underlier closes at or above its coupon barrier, 65% of its initial level, on the observation date for that period.
The notes will be callable quarterly at par plus any coupon due on any quarterly call valuation date after one year.
The payout at maturity will be par plus any final coupon due unless any underlier finishes below the 50% downside barrier, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underliers: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
|
| Amount: | $2.1 million
|
| Maturity: | March 28, 2030
|
| Coupon: | 8%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Call option: | At par plus any coupon due on any quarterly call valuation date after one year
|
| Payout at maturity: | Par plus any coupon if all underlying indexes close above barrier level; otherwise 1% for each 1% decline of worse performing underlier from initial level
|
| Initial levels: | 21,200.55 for Dow, 1,110.37 for Russell, 2,475.56 for S&P
|
| Coupon barriers: | 13,780.36 for Dow, 721.74 for Russell, 1,609.11 for S&P, 65% of initial levels
|
| Barrier values: | 10,600.28 for Dow, 555.19 for Russell, 1,237.78 for S&P, 50% of initial levels
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747PJL4
|
|
|
© 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.
