Published on 8/19/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.18 million callable contingent coupon notes on Russell, S&P, Stoxx
By William Gullotti
Buffalo, N.Y., Aug. 19 – Barclays Bank plc priced $2.18 million of callable contingent coupon notes due Aug. 16, 2024 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 8.5% if each index closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly call date.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless any index closes below its 75% barrier value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index, S&P 500 index
|
Amount: | $2,182,000
|
Maturity: | Aug. 16, 2024
|
Contingent coupon: | 8.5% per year, payable quarterly if each index closes at or above coupon barrier on the observation date for that period
|
Price: | Par
|
Payout at maturity: | Par plus the final coupon unless any index closes below its barrier value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
Call option: | In whole at par plus any coupon due on any quarterly call date
|
Initial levels: | 4,229.7 for Stoxx, 4,468.0 for S&P, 2,223.11 for Russell
|
Coupon barriers: | 3,172.28 for Stoxx, 3,351.0 for S&P, 1,667.33 for Russell; 75% of initial levels
|
Final barrier levels: | 3,172.28 for Stoxx, 3,351.0 for S&P, 1,667.33 for Russell; 75% of initial levels
|
Pricing date: | Aug. 13
|
Settlement date: | Aug. 18
|
Agent: | Barclays
|
Fees: | 2%
|
Cusip: | 06748WCC5
|
|
© 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.