Published on 8/26/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.93 million contingent coupon callable notes linked to two indexes
By Susanna Moon
Chicago, Aug. 26 – Barclays Bank plc priced $1.93 million of callable contingent coupon notes due Feb. 24, 2017 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its knock-in level, 65% of its initial level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are callable at par on any interest payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000, Euro Stoxx 50
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Amount: | $1.93 million
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Maturity: | Feb. 24, 2017
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Coupon: | 6% annualized, payable quarterly if each index closes at or above its barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its knock-in level, in which case par plus return of worst performing index, with full exposure to losses
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Call option: | On any contingent coupon payment date
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Initial levels: | 1,156.79 for Russell, 3,247.26 for Stoxx
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Barrier levels: | 65% of initial levels
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Pricing date: | Aug. 21
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Settlement date: | Aug. 28
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Agent: | Barclays
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Fees: | 1.5%
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Cusip: | 06741UE83
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