Published on 10/7/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.98 million contingent coupon notes on three indexes
By Marisa Wong
Morgantown, W.Va., Oct. 7 – Barclays Bank plc priced $1.98 million of callable contingent coupon notes due Oct. 2, 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.
The notes pay a contingent quarterly coupon at an annual rate of 9.5% if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the worst-performing index from its initial level.
The notes are callable in whole but not in part at par on any 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, S&P 500
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Amount: | $1,975,000
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Maturity: | Oct. 2, 2019
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Coupon: | 9.5% annualized, per quarter that each index closes at or above barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of worst-performing index
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Call option: | At par on any interest payment date
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Initial levels: | 2,970.84 for Euro Stoxx, 1,246.38 for Russell, 2,159.93 for S&P
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Barrier levels: | 1,931.05 for Euro Stoxx, 810.15 for Russell, 1,403.95 for S&P; 65% of initial levels
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Pricing date: | Sept. 27
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Settlement date: | Sept. 30
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06741VAR3
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