Published on 1/2/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.33 million callable contingent coupon note on Euro Stoxx, EM fund
By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – Barclays Bank plc priced $1.33 million of callable contingent coupon notes due Dec. 23, 2020 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 9% per year if each underlying closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes are callable in whole but not in part on any contingent coupon payment date.
The payout at maturity will be par unless either underlying finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing underlying.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying asset: | Euro Stoxx 50 index and iShares MSCI Emerging Markets exchange-traded fund Amount: | $1,332,000
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Maturity: | Dec. 23, 2020
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Contingent coupon: | 9% per year, payable semiannually if each asset closes at or above coupon barrier level on observation date for that period
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Price: | Par
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Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of worse performing asset
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Call option: | At par on any interest payment date
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Initial index levels: | 3,570.78 for Stoxx and $46.11 for ETF
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Coupon barrier/barriers: | 2,499.55 for Stoxx and $32.28 for ETF, or 70% of initial levels
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Pricing date: | Dec. 21
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Settlement date: | Dec. 29
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Agent: | Barclays
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Fees: | 0.65%
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Cusip: | 06744CNA5
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