Published on 1/15/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3 million 8.7% callable notes linked to Euro Stoxx, Russell, S&P
By Angela McDaniels
Tacoma, Wash., Jan. 15 – Barclays Bank plc priced $3 million of 8.7% callable securities due Jan. 19, 2018 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.
Interest is payable quarterly.
The notes are callable at par on any quarterly determination date other than the final one.
If each index finishes at or above its downside threshold level, 75% of its initial level, the payout at maturity will be par. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable securities
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $3 million
|
| Maturity: | Jan. 19, 2018
|
| Coupon: | 8.7% per year, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par; if final level of any index is less than downside threshold level, full exposure to decline of lowest-performing index
|
| Call option: | At par on any quarterly determination date other than final one
|
| Initial index levels: | 3,073.03 for Euro Stoxx 50, 1,938.68 (closing level on Jan. 12) for S&P 500 and 1,044.697 (closing level on Jan. 12) for Russell 2000
|
| Downside threshold: | 2,304.765 for Euro Stoxx 50, 1,454.010 for S&P 500 and 783.523 for Russell 2000; 75% of initial index levels
|
| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
|
| Agent: | Barclays
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 06741U3Q5
|
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