Published on 8/10/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $431,000 callable contingent coupon notes on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 10 – Barclays Bank plc priced $431,000 of callable contingent coupon notes due July 31, 2023 linked to the least performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at an annualized rate of 7% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.
At Barclays’ option, the notes will be callable in whole at par on any coupon payment date after one year.
If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-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: | Euro Stoxx 50, Russell 2000
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Amount: | $431,000
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Maturity: | July 31, 2023
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Contingent coupon: | 7% per year, payable semiannually if each index closes at or above coupon barrier level on the observation date for that period
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
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Call option: | At par on any coupon payment date after one year
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Initial levels: | 3,509.26 for Stoxx and 1,695.36 for Russell
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Coupon barriers: | 2,456.48 for Stoxx and 1,186.75 for Russell; 70% of initial levels
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Barrier levels: | 2,456.48 for Stoxx and 1,186.75 for Russell; 70% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Barclays
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Fees: | 4.125%
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Cusip: | 06746XHY2
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