Published on 6/24/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1 million callable contingent coupon notes on Euro Stoxx Banks, Russell
By Wendy Van Sickle
Columbus, Ohio, June 24 – Barclays Bank plc priced $1 million of callable contingent coupon notes due June 24, 2030 linked to the Euro Stoxx Banks index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at a rate of 9% per year if each index closes at or above 65% of its initial level on the observation date for that period.
The notes are callable at par plus the coupon on any coupon payment date.
If the notes are not redeemed, the payout at maturity will be par plus the coupon unless any index finishes below 60% of its initial level, in which case investors will be exposed to the loss of the least performing index.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx Banks
|
| Amount: | $1 million
|
| Maturity: | June 24, 2030
|
| Coupon: | 9% per year; payable each quarter that each index closes at or above 65% of its initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below 60% of initial level, in which case exposure to loss of least performing index
|
| Call: | At par plus coupon on any coupon payment date
|
| Initial index levels: | 62.62 for Euro Stoxx Banks, 1,481.63 for Russell
|
| Coupon barriers: | 40.7 for Euro Stoxx Banks, 922.11 for Russell, 65% of initial levels
|
| Trigger levels: | 37.57 for Euro Stoxx Banks, 851.18 for Russell, 60% of initial levels
|
| Pricing date: | June 19
|
| Settlement date: | June 24
|
| Underwriter: | Barclays
|
| Fees: | 4.75%
|
| Cusip: | 06747PZ69
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
