Published on 6/27/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $916,000 callable contingent coupon notes on Stoxx indexes
By Sarah Lizee
Olympia, Wash., June 27 – Barclays Bank plc priced $916,000 of callable contingent coupon notes due June 28, 2029 linked to the least performing of the Euro Stoxx Banks index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarter coupon at an annualized rate of 9% if each underlying asset closes at or above its coupon barrier level, 60% of the initial value, on the related observation date.
The notes will be callable in whole at par on any contingent coupon payment date.
If each asset finishes at or above its 60% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
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 index, Euro Stoxx Banks index
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Amount: | $916,000
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Maturity: | June 28, 2029
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Contingent coupon: | 9% per year, payable each quarter that each underlying asset closes at or above coupon barrier 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 value, par; otherwise, full exposure to decline of least-performing asset
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Call option: | At par on any contingent coupon payment date
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Initial values: | 3,444.36 for Stoxx 50, 85.57 for Stoxx Banks
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Coupon barriers: | 2,066.62 for Stoxx 50, 51.34 for Stoxx Banks; 60% of initial values
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Barrier values: | 2,066.62 for Stoxx 50, 51.34 for Stoxx Banks; 60% of initial values
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | Barclays
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Fees: | 4.5%
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Cusip: | 06747MYA8
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