Published on 4/26/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.99 million callable contingent notes linked to Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, April 26 – Barclays Bank plc priced $2.99 million of callable contingent coupon notes due April 25, 2019 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon at an annualized rate of 10% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that period.
The notes will be callable at par on any coupon payment date.
If each index finishes at or above its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-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: | Russell 2000, Euro Stoxx 50
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Amount: | $2,992,000
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Maturity: | April 25, 2019
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Coupon: | 10%, payable semiannually if each index closes at or above barrier level on observation date for that period
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Price: | Par of $1,000
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Payout at maturity: | Par unless either index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worse performing asset
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Call option: | At par on any interest payment date
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Initial levels: | 1,146.69 for Russell, 3,141.12 for Euro Stoxx
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Barrier levels: | 802.68 for Russell; 2,198.78 for Euro Stoxx, 70% of initial levels
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Pricing date: | April 22
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Settlement date: | April 29
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Agent: | Barclays
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Fees: | 2.35%
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Cusip: | 06741U6X7
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