Published on 3/19/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.24 million callable contingent payment notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., March 19 - Barclays Bank plc priced $6.24 million of callable contingent payment notes due June 22, 2015 linked to the lowest return of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, noteholders will receive a contingent payment at the rate of 9.5% per year if the lowest-performing index closes at or above its barrier level, 75% of its initial level, on the valuation date for that quarter.
If the final level of the lowest-performing index is greater than or equal to its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lowest-performing index from its initial level.
The notes are callable at par on any quarterly contingent payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent payment notes
|
Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
Amount: | $6,241,000
|
Maturity: | June 22, 2015
|
Coupon: | 9.5% per year, payable quarterly if lowest-performing index closes at or above barrier level on valuation date for that quarter
|
Price: | Par
|
Payout at maturity: | If final level of lowest-performing index is greater than or equal to barrier level, par; otherwise, full exposure to decline of lowest-performing index
|
Call option: | At par on any quarterly contingent payment date
|
Initial index levels: | 1,858.83 for S&P 500, 1,188.23 for Russell 2000 and 3,049.19 for Euro Stoxx 50
|
Barrier levels: | 1,394.12 for S&P 500, 891.17 for Russell 2000 and 2,286.89 for Euro Stoxx 50; 75% of initial levels
|
Pricing date: | March 17
|
Settlement date: | March 20
|
Agent: | Barclays
|
Fees: | 1%
|
Cusip: | 06741UAH7
|
© 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.