Published on 12/30/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $965,000 callable contingent coupon notes linked to fund, two indexes
By Susanna Moon
Chicago, Dec. 30 – Barclays Bank plc priced $965,000 of callable contingent coupon notes due Jan. 2, 2018 linked to the Russell 2000 index, the Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 10.5% if each underlying component closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any component finishes below its 70% barrier level, in which case investors will be fully exposed to any losses of the worst performing component.
The notes are callable at par on any interest payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlyings: | Russell 2000 index, Euro Stoxx 50 index and iShares MSCI EAFE ETF
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Amount: | $965,000
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Maturity: | Jan. 2, 2018
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Coupon: | 10.5% annualized, per quarter that each component closes at or above barrier level on observation date for that quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless any component finishes below its 70% barrier level, in which case full exposure to any losses of worst performing component
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Call option: | At par on any interest payment date
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Initial levels: | 1,152.82 for Russell, 3,286.68 for Stoxx and $59.53 for MSCI EAFE
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Barrier levels: | 806.97 for Russell, 2,300.68 for Stoxx and $41.67 for MSCI EAFE; 70% of initial levels
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Pricing date: | Dec. 23
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Settlement date: | Dec. 30
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Agent: | Barclays
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Fees: | 1.5%
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Cusip: | 06741UY81
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