Published on 7/31/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million callable contingent coupon notes on Euro Stoxx, Russell
By Toni Weeks
San Luis Obispo, Calif., July 31 – Barclays Bank plc priced $1 million of callable contingent coupon notes due July 31, 2020 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying index closes at or above the 60% coupon barrier level on a quarterly observation date, the notes will pay a coupon at an annualized rate of 7.5% for that interest period.
The notes will be callable at par on any quarterly observation date.
If each index finishes at or above the 60% barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worst-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $1 million
|
| Maturity: | July 31, 2020
|
| Contingent coupon: | Contingent quarterly coupon of 7.5% per year if each index closes at or above 60% barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than or equal to negative 40%, par plus contingent coupon; if return of either index is less than negative 40%, full exposure to losses of worst-performing component
|
| Call option: | At par on any quarterly observation date
|
| Initial index levels: | 1,224.6 for Russell, 3,554.11 for Euro Stoxx
|
| Barrier levels: | 734.76 for Russell, 2,132.47 for Euro Stoxx; 60% of initial levels
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06741UZU1
|
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