New Issue: Barclays sells $9.8 million contingent income callable notes on indexes

By Marisa Wong

Morgantown, W.Va., Feb. 14 – Barclays Bank plc priced $9.8 million of contingent income callable securities due Feb. 13, 2020 linked to the least performing of the Euro Stoxx 50 index, the Nikkei 225 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 at an annual rate of 9.65% if each index closes at or above its coupon barrier, 70% of its initial index level, on each day during that quarter.

After six months, the notes are callable at par on any quarterly determination date other than the final one.

If each index finishes at or above its 60% downside threshold level, the payout at maturity will be par plus the final contingent coupon, if any. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.

Barclays is the agent. Morgan Stanley Wealth Management is acting as a dealer.

Issuer:	Barclays Bank plc
Issue:	Contingent income callable securities
Underlying indexes:	Euro Stoxx 50, Nikkei 225 and S&P 500
Amount:	$9,803,000
Maturity:	Feb. 13, 2020
Coupon:	9.65% per year, payable quarterly if each index closes at or above its coupon barrier on each day during that quarter
Price:	Par
Payout at maturity:	If each index finishes at or above downside threshold level, par; if final level of any index is less than downside threshold level, full exposure to decline of least-performing index
Call option:	After six-month non-call period, at par on any quarterly determination date other than final one
Initial index levels:	19,378.93 for Nikkei, 2,316.10 for S&P, 3,270.83 for Russell
Coupon barriers:	13,565.251 for Nikkei, 1,621.270 for S&P, 2,289.581 for Russell; 70% of initial levels
Downside thresholds:	11,627.358 for Nikkei, 1,389.660 for S&P, 1,962.498 for Russell; 60% of initial index levels
Pricing date:	Feb. 10
Settlement date:	Feb. 15
Agent:	Barclays
Selected dealer:	Morgan Stanley Wealth Management
Fees:	2%
Cusip:	06741VKK7

© 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.