Published on 6/20/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $38.28 million contingent income callables on Euro Stoxx
By Devika Patel
Knoxville, Tenn., June 20– Barclays Bank plc priced $38.28 million of contingent income callable securities due June 21, 2027 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.25% if the index closes at or above its coupon barrier, 75% of its initial level, on a determination date for that quarter.
The notes may be called at par of $10 plus the contingent coupon, if any, on any quarterly coupon payment date other than the final one beginning on Dec. 21, 2017.
The payout at maturity will be par plus the final contingent coupon, if any, unless the index finishes below the 60% downside threshold, in which case investors will lose 1% for each 1% decline from the index’s initial level.
Barclays is the agent, with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income callable securities
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| Underlying index: | Euro Stoxx 50
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| Amount: | $38,275,000
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| Maturity: | June 21, 2027
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| Contingent coupon: | 9.25% per year, payable quarterly if index closes at or above its coupon barrier on quarterly determination date
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| Price: | Par of $10
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| Payout at maturity: | Par plus the final contingent coupon, if any, unless the index finishes below the downside threshold, in which case 1% loss for each 1% decline from index’s initial level
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| Call: | At par plus the contingent coupon, if any, on any quarterly coupon payment date other than the final one beginning on Dec. 21, 2017
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| Initial level: | 3,543.88
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| Coupon barrier level: | 2,657.91, 75% of initial level
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| Downside threshold: | 2,126.328, 60% of initial level
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Agent: | Barclays
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| Fees: | 1.5%
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| Cusip: | 06741VYN6
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