Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $100,000 callable contingent coupon notes on Nasdaq, Dow
By Kiku Steinfeld
Chicago, Aug. 13 – Barclays Bank plc priced $100,000 of callable contingent coupon notes due July 31, 2029 linked to the least performing of 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 an annualized rate of 7.15% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
At Barclays’ option, the notes will be callable at par plus any coupon due on any coupon payment date.
If each index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par.
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: | Nasdaq-100 index and Dow Jones industrial average
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Amount: | $100,000
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Maturity: | July 31, 2029
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Contingent coupon: | 7.15% annualized rate, 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; otherwise, exposure to losses of least-performing index
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Call option: | At par plus any coupon due on any coupon payment date
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Initial levels: | 8,016.95 for Nasdaq, 27,192.45 for Dow
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Coupon barriers: | 5,611.87 for Nasdaq, 19,034.72 for Dow, 70% of initial levels
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Barrier levels: | 4,810.17 for Nasdaq, 16,315.47 for Dow, 60% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Barclays
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Fees: | 4%
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Cusip: | 06747MD29
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