Published on 7/3/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.25 million 9.25% contingent coupon callables on Russell, Stoxx Banks
By Susanna Moon
Chicago, July 3 – Barclays Bank plc priced $2.25 million of callable contingent coupon notes due June 29, 2028 linked to the least performing of the Russell 2000 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless any underlying asset closes below its 60% trigger level, in which case investors will be exposed to any losses of the worst performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | Russell 2000 index and Euro Stoxx Banks
|
Amount: | $2,248,000
|
Maturity: | June 29, 2028
|
Coupon: | 9.25% annualized, payable quarterly if each index closes at or above 60% coupon barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless any index falls by more than 40%, in which case 1% loss per 1% decline of worst performing index
|
Call option: | At par on any interest payment date beginning with second observation date
|
Initial levels: | 1,668.53 for Russell and 109.89 for Stoxx banks
|
Trigger levels: | 1,001.12 for Russell and 65.93 for Stoxx banks; 60% of initial levels
|
Pricing date: | June 26
|
Settlement date: | June 29
|
Agent: | Barclays
|
Fees: | 4.5%
|
Cusip: | 06746XE33
|
|
|
© 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.