Published on 7/25/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.31 million callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 25 – Barclays Bank plc priced $2.31 million of callable contingent coupon notes due July 25, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and 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 8.4% if each index closes at or above its barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date starting with fourth payment date.
If each index finishes at or above its barrier level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worst 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: | S&P 500, Russell 2000, Euro Stoxx 50
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Amount: | $2,305,000
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Maturity: | July 25, 2024
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Contingent coupon: | 8.4% per year, payable quarterly if each underlying index closes at or above barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier, par plus final coupon; otherwise, full exposure to losses of worse performing index
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Call option: | At par on any interest payment date after one year
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Initial levels: | 2,472.54 for S&P, 1,435.839 for Russell and 3,451.71 for Stoxx
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Barriers: | 1,607.15 for S&P, 933.30 for Russell and 2,243.61 for Stoxx, 65% of initial levels
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Pricing date: | July 21
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Settlement date: | July 28
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Agent: | Barclays
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Fees: | 3.25%
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Cusip: | 06744CCX7
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