Published on 10/10/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.04 million contingent income notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Oct. 10 – Barclays Bank plc priced $5.04 million of contingent income callable securities due Oct. 12, 2022 linked to the worst performing of the Euro Stoxx 50 index, the S&P 500 index and the Topix index , according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.25% if each index closes at or above its downside threshold level, 70% of its initial level, on the determination date for that quarter.
The notes are redeemable at par on any quarterly contingent payment date other than the final one.
The payout at maturity will be par unless the final level of any index is less than its downside threshold level, in which case investors will be fully exposed to the decline of the worst-performing index.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income callable securities
|
| Underlying indexes: | Euro Stoxx 50, Topix and S&P 500
|
| Amount: | $5,044,000
|
| Maturity: | Oct. 12, 2022
|
| Coupon: | Each quarter, notes pay contingent coupon at an annual rate of 8.25% if each index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par; if final level of any index is less than downside threshold level, full exposure to decline of worst-performing index
|
| Call option: | At par on any quarterly contingent payment date other than final one
|
| Initial index levels: | 2,549.33 for S&P 500, 3,603.32 for Euro Stoxx 50 and 1,687.16 for Topix;
|
| Downside thresholds: | 1,784.431 for S&P 500, 2,522.324 for Euro Stoxx 50 and 1,181.012 for Topix 70% of initial levels
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 12
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 06744C5R8
|
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