New Issue: Barclays prices $2.55 million callable contingent coupon notes on Stoxx, Russell

By Susanna Moon

Chicago, Oct. 29 – Barclays Bank plc priced $2.55 million of callable contingent coupon notes due Oct. 26, 2018 linked to the worse performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent semiannual coupon at an annual rate of 9.5% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that period.

The notes are callable at par on any contingent coupon payment date.

If the final level of the least performing index is at or above its 70% barrier level, the payout at maturity will be par.

Otherwise, investors will be fully exposed to any losses of the least performing index.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying indexes:	Euro Stoxx 50 and Russell 2000
Amount:	$2,553,000
Maturity:	Oct. 26, 2018
Contingent coupon:	9.5% per year, payable semiannually if each index closes at or above coupon barrier level on observation date for that period
Price:	Par
Payout at maturity:	If return of each index is greater than or equal to negative 70%, par; otherwise, full exposure to losses of worse performing index
Call option:	At par on any contingent coupon payment date
Initial index levels:	1,166.06 for Russell and 3,425.81 for Euro Stoxx
Barrier levels:	70% of initial levels
Pricing date:	Oct. 23
Settlement date:	Oct. 30
Agent:	Barclays
Fees:	2%
Cusip:	06741UM68

© 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.