Published on 6/18/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $616,000 3.4% buffered callable fixed coupon notes on Dow, Russell
By Kiku Steinfeld
Chicago, June 18 – Barclays Bank plc priced $616,000 of 3.4% buffered callable fixed coupon notes due June 20, 2024 linked to the least performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any contingent coupon payment date after one year.
The payout at maturity will be par plus the final coupon due unless either index finishes below the 85% downside barrier, in which case investors will lose 1% for each 1% decline of the worst performing index beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered callable fixed coupon notes
|
| Underlying indexes: | Russell 2000 index and Dow Jones industrial average
|
| Amount: | $616,000
|
| Maturity: | June 20, 2024
|
| Coupon: | 3.4%; payable quarterly
|
| Price: | Par
|
| Call option: | At par on any interest payment date after one year
|
| Payout at maturity: | Par unless index falls by more than 15%, in which case exposure to losses of index beyond 15%
|
| Initial levels: | 25,763.16 for Dow, 1,419.61 for Russell
|
| Coupon barriers: | 21,898.69 for Dow, 1,206.67 for Russell, 85% of initial levels
|
| Buffer levels: | 21,898.69 for Dow, 1,206.67 for Russell, 85% of initial levels
|
| Pricing date: | June 15
|
| Settlement date: | June 18
|
| Agent: | Barclays
|
| Fees: | 3.25%
|
| Cusip: | 06747PYX1
|
© 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.
