Published on 8/12/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4 million contingent payment notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., Aug. 12 – Barclays Bank plc priced $4 million of callable contingent payment notes due Aug. 13, 2024 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 10.65% if each index closes at or above its barrier level, 65% of its initial level, on the valuation date for that quarter.
The payout at maturity will be par unless the lowest performing index finishes below its barrier level, in which case investors will be fully exposed to the decline of that index from its initial level.
The notes are callable at par on any interest payment date.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent payment notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $4 million
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| Maturity: | Aug. 13, 2024
|
| Coupon: | 10.65% per year, payable quarterly if each index closes at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless lowest performing index finishes below barrier level, in which case full exposure to decline of lowest performing index
|
| Call option: | At par on any interest payment date
|
| Initial index levels: | 3,006.83 for Euro Stoxx 50, 1,131.30 for Russell 2000 and 1,931.59 for S&P 500
|
| Barrier levels: | 1,954.44 for Euro Stoxx 50, 735.35 for Russell 2000 and 1,255.53 for S&P 500; 65% of initial levels
|
| Pricing date: | Aug. 8
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| Settlement date: | Aug. 13
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| Agent: | Barclays
|
| Fees: | 1.05%
|
| Cusip: | 06741UHG2
|
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