Published on 7/6/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.05 million contingent income callables tied to Stoxx
By Susanna Moon
Chicago, July 6 – Barclays Bank plc priced $4.05 million of 0% contingent income callable securities due June 20, 2024 linked to the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.25% if the index closes at or above its 75% coupon barrier on a determination date for that quarter.
The notes may be called at par of $10 plus the contingent coupon on any quarterly coupon payment date other than the final date after six months.
The payout at maturity will be par plus the final contingent coupon unless the index finishes below the 60% downside threshold, in which case investors will be fully exposed to any losses.
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: | $4,046,000
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| Maturity: | June 20, 2024
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| Contingent coupon: | 7.25% per year, payable quarterly if index closes at or above coupon barrier on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon unless index finishes below downside threshold, in which case 1% loss for each 1% decline
|
| Call: | At par plus the contingent coupon on any quarterly coupon payment date other than the final date beginning 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: | 3%
|
| Cusip: | 06741VXZ0
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