Published on 4/25/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.02 million callable contingent coupon notes on indexes
By Devika Patel
Knoxville, Tenn., April 25 – Barclays Bank plc priced $2.02 million of callable contingent coupon notes due April 26, 2021 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a semiannual coupon at an annualized rate of 8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes are callable at par plus any coupon on any coupon payment date beginning Oct. 21, 2017.
The payout at maturity will be par unless the final level of the least performing index is less than its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least 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 and Euro Stoxx 50
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Amount: | $2,022,000
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Maturity: | April 26, 2021
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Contingent coupon: | 8% per year, 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 final level of least performing index is less than barrier level, in which case 1% loss for each 1% decline of least performing index
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Call option: | At par plus any coupon on any coupon payment date beginning Oct. 21, 2017
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Initial index levels: | 1,379.85 for Russell and 3,440.27 for Stoxx
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Coupon barrier levels: | 965.90 for Russell and 2,408.19 for Stoxx; 70% of initial levels
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Barrier levels: | 827.91 for Russell and 2,064.16 for Stoxx; 60% of initial levels
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Pricing date: | April 21
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Settlement date: | April 28
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Agent: | Barclays
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Fees: | 2.15%
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Cusip: | 06741VSB9
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