Published on 4/2/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 callable contingent coupon notes on indexes
By Marisa Wong
Morgantown, W.Va., April 2 – Barclays Bank plc priced $500,000 of callable contingent coupon notes due March 20, 2029 linked to the least performing of the Euro Stoxx 50 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon of 8.75% per year if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that period.
At Barclays’ option, the notes will be callable in whole at par plus the coupon on any contingent coupon payment date after six months.
If each index finishes at or above its barrier level, 55% of its initial level, the payout at maturity will be par plus the coupon, if any.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Euro Stoxx 50 index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | March 20, 2029
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| Contingent coupon: | 8.75% per year, payable quarterly if each index closes at or above coupon barrier level on the observation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above barrier level, par plus coupon, if any; otherwise, exposure to losses of least-performing index
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| Call option: | At par plus coupon on any contingent coupon payment date after six months
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| Initial levels: | 3,386.08 for Euro Stoxx, 7,306.99 for Nasdaq, 25,848.87 for Dow
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| Coupon barriers: | 2,200.95 for Euro Stoxx, 4,749.54 for Nasdaq, 18,094.21 for Dow; 65% of initial levels
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| Barrier levels: | 1,862.34 for Euro Stoxx, 4,018.84 for Nasdaq; 15,509.32 for Dow, 55% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | Barclays
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| Fees: | 1.5%
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| Cusip: | 06747MJZ0
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