Published on 9/19/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.2 million callable contingent coupon notes on indexes
By Devika Patel
Knoxville, Tenn., Sept. 19 – Barclays Bank plc priced $5.2 million of callable contingent coupon notes due Sept. 20, 2018 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 9.5% if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date other than the final date.
The payout at maturity will be par unless the final level of the least performing index is less than its 65% barrier level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent. Morgan Stanley Smith Barney LLC is a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $5.2 million
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| Maturity: | Sept. 20, 2018
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| Contingent coupon: | 9.5% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless final level of least performing index is less than barrier level, in which case 1% loss for each 1% decline
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| Call option: | At par on any coupon payment date other than the final date
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| Initial index levels: | 1,224.779 for Russell 2000, 2,139.16 for S&P 500 and 2,935.25 for Euro Stoxx 50
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| Barrier levels: | 796.106 for Russell 2000, 1,390.454 for S&P 500 and 1,907.913 for Euro Stoxx 50; 65% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agent: | Barclays
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| Fees: | 2%
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| Cusip: | 06741VB84
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