Published on 6/3/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.02 million callable contingent coupon notes on three indexes
By Marisa Wong
Morgantown, W.Va., June 3 – Barclays Bank plc priced $2.02 million of callable contingent coupon notes due May 31, 2019 linked to 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 pay a contingent coupon of 2.175% if each underlying index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are callable at par on any contingent interest payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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Amount: | $2,015,000
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Maturity: | May 31, 2019
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Coupon: | 2.175% for each quarter that each index closes at or above barrier level on observation date for that quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless any index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing index
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Call option: | At par on any contingent coupon payment date
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Initial levels: | 3,061.60 for Euro Stoxx, 1,141.02 for Russell, 2,090.54 for S&P
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Barrier levels: | 1,836.96 for Euro Stoxx, 684.61 for Russell, 1,254.32 for S&P; 60% of initial levels
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Pricing date: | May 25
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Settlement date: | May 31
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06741V3M2
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