Published on 9/26/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.14 million contingent coupon notes linked to S&P, oil ETF
By Angela McDaniels
Tacoma, Wash., Sept. 26 – Barclays Bank plc priced $5.14 million of callable contingent coupon notes due Sept. 25, 2020 linked to the lesser performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes pay a coupon at an annualized rate of 9.25% if each underlier closes at or above its barrier level, 60% of its initial level, on the observation date for that semiannual period.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either underlier finishes below its barrier level, in which case investors will be exposed to the decline of the lesser-performing underlier from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlyings: | S&P 500 index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $5,137,000
|
| Maturity: | Sept. 25, 2020
|
| Contingent coupon: | 9.25% per year, payable semiannually if each underlier closes at or above barrier level on observation date for that semiannual period
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlier finishes below barrier level, in which case exposure to decline of lesser-performing underlier from initial level
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 2,502.22 for index and $33.04 for ETF
|
| Barrier levels: | 1,501.33 for index and $19.82 for ETF; 60% of initial levels
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 29
|
| Agent: | Barclays
|
| Fees: | 0.65%
|
| Cusip: | 06744CHS3
|
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