Published on 7/14/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $718,000 callable contingent coupon notes on Stoxx, ETF
New York, July 14 – Barclays Bank plc priced $718,000 of callable contingent coupon notes due July 16, 2020 linked to the least performing of the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon of 10.75% if each underlying component closes at or above its 65% coupon barrier on the observation date for that period.
The payout at maturity will be par unless either component finishes below its 65% barrier level, in which case investors will be fully exposed to any losses.
The notes are callable at par on the fourth or fifth coupon payment dates.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying: | Euro Stoxx 50 index, SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $718,000
|
| Maturity: | July 16, 2020
|
| Coupon: | 10.75% annualized, payable semiannually if each component closes at or above 65% coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either component finishes below its 65% barrier level, in which case 1% loss for each 1% decline of the worse performing component from initial level
|
| Call option: | At par on fourth or fifth coupon payment dates
|
| Initial levels: | 3,515.23 for Stoxx, $31.40 for oil fund
|
| Coupon barrier levels: | 2,284.90 for Stoxx, $20.41 for oil fund; 65% of initial level
|
| Barrier levels: | 2,284.90 for Stoxx, $20.41 for oil fund; 65% of initial level
|
| Pricing date: | July 12
|
| Settlement date: | July 19
|
| Agent: | Barclays
|
| Fees: | 0.4%
|
| Cusip: | 06744CBU4
|
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