Published on 8/23/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $9.64 million contingent income callables on indexes
By Susanna Moon
Chicago, Aug. 23 – Barclays Bank plc priced $9.64 million of contingent income callable securities due Aug. 21, 2020 linked to the least performing of the Nikkei 225 index, the S&P 500 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 8.05% if each index closes at or above its 70% coupon barrier on each day during that quarter.
The notes are callable at par on any quarterly determination date other than the final date.
The payout at maturity will be par plus the final coupon unless any index finishes below its 65% trigger level, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Nikkei 225 index, S&P 500 index and Euro Stoxx 50
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| Amount: | $9,638,000
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| Maturity: | Aug. 21, 2020
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| Coupon: | 8.05% per year, payable quarterly if each index closes at or above 70% coupon barrier on each day during that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 65% trigger, par; otherwise, full exposure to decline of worst performing index
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| Call option: | At par on any interest payment date other than final date
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| Initial levels: | 19,470.41 for Nikkei, 2,425.55 for S&P and 3,446.03 for Stoxx
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| Coupon barriers: | 13,629.287 for Nikkei, 1,697.885 for S&P and 2,412.221 for Stoxx; 70% of initial levels
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| Triggers: | 12,655.767 for Nikkei, 1,576.608 for S&P and 2,239.92 for Stoxx; 65% of initial levels
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 23
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.5%
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| Cusip: | 06744CHD6
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