Published on 6/20/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 callable contingent coupon notes on funds, index
By Devika Patel
Knoxville, Tenn., June 20 – Barclays Bank plc priced $500,000 of callable contingent coupon notes due June 19, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, the iShares MSCI Emerging Markets exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon of 9.5% if each underlying component closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period.
The payout at maturity will be par unless any component finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing component from its initial level.
The notes are callable at par on any interest payment date beginning on Dec. 16, 2017.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying components: | SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, iShares MSCI Emerging Markets exchange-traded fund and Russell 2000 index
|
| Amount: | $500,000
|
| Maturity: | June 19, 2020
|
| Coupon: | 9.5% per annum payable quarterly if each component closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any component finishes below its 60% barrier level, in which case 1% loss for each 1% decline of the worse performing component from initial level
|
| Call option: | At par on any interest payment date starting on Dec. 16, 2017
|
| Initial levels: | $31.65 for Oil & Gas, $41.22 for Emerging Markets, 1,406.73 for Russell
|
| Coupon barrier levels: | $18.99 for Oil & Gas, $24.73 for Emerging Markets, 844.04 for Russell, 60% of initial levels
|
| Barrier levels: | $18.99 for Oil & Gas, $24.73 for Emerging Markets, 844.04 for Russell, 60% of initial levels
|
| Pricing date: | June 16
|
| Settlement date: | June 21
|
| Agent: | Barclays
|
| Fees: | 2.7%
|
| Cusip: | 06741VYM8
|
|
|
© 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.
