Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.64 million callable contingent coupon notes on index, ETF
Chicago, Feb. 5 – Barclays Bank plc priced $3.64 million of callable contingent coupon notes due Jan. 31, 2023 linked to the least 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.
The notes pay a contingent monthly coupon at an annualized rate of 9.5% if each underlying asset closes at or above its coupon barrier level, 60% of its initial price, on the observation date for that period.
The notes will be callable at par plus any coupon due on any monthly contingent coupon payment date after six months.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | S&P 500 index, SPDR S&P oil & gas exploration & production ETF
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| Amount: | $3,640,000
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| Maturity: | Jan. 31, 2023
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| Contingent coupon: | 9.5% per year, payable monthly if each underlying asset closes at or above coupon barrier level observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above barrier level, par plus coupon; otherwise, full exposure to losses of least-performing asset
|
| Call option: | Callable at par plus any coupon due on any contingent coupon payment date after six months
|
| Initial levels: | 3,276.24 for index, $19.97 for ETF
|
| Coupon barriers: | 1,965.74 for index, $11.98 for ETF, 60% of initial levels
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| Barriers: | 1,965.74 for index, $11.98 for ETF, 60% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
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| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06747NYV0
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