Published on 7/24/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.15 million callable contingent coupon notes on Russell, oil fund
By Wendy Van Sickle
Columbus, Ohio, July 24 – Barclays Bank plc priced $1.15 million of callable contingent coupon notes due July 24, 2024 linked to the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a monthly contingent coupon at an annualized rate 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 either component finishes below its 55% barrier level, in which case investors will be fully exposed to any losses of the worse performing component.
The notes are callable at par plus any coupon on any contingent coupon payment date after six months.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying components: | Russell 2000 index and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
|
| Amount: | $1,153,000
|
| Maturity: | July 24, 2024
|
| Coupon: | 9.5%, payable monthly if each component closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either component finishes below its 55% barrier level, in which case investors will be fully exposed to any losses of the worse performing component
|
| Call option: | At par plus any coupon on any interest payment date after six months
|
| Initial levels: | 1,547.90 for Russell 2000, $24.76 for oil and gas ETF
|
| Coupon barrier levels: | 928.74 for Russell 2000, $14.86 for oil and gas ETF, 60% of initial levels
|
| Barrier levels: | 851.35 for Russell 2000, $13.62 for oil and gas ETF, 55% of initial levels
|
| Pricing date: | July 19
|
| Settlement date: | July 26
|
| Agent: | Barclays
|
| Fees: | 1.125%
|
|
|
| Cusip: | 06747N6W9
|
|
|
© 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.
