Published on 10/3/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.75 million callable contingent coupon notes tied to two indexes
By Susanna Moon
Chicago, Oct. 3 – Barclays Bank plc priced $4 million of callable contingent coupon notes due Sept. 30, 2026 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 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 10% if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
The notes will be callable at par on any contingent coupon payment date.
The payout at maturity will be par unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
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 and Euro Stoxx 50
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| Amount: | $3,753,000
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| Maturity: | Sept. 30, 2026
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| Contingent coupon: | 10% 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
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| Payout at maturity: | Par unless either index finishes below its barrier, in which case full exposure to any losses of worse performing index
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| Call option: | At par on any interest payment date after one year
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| Initial levels: | 1,246.38 for Russell and 2,970.84 for Stoxx
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| Coupon barriers: | 934.79 for Russell and 2,228.13 for Stoxx; 75% of initial levels
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| Trigger levels: | 623.19 for Russell and 1,485.42 for Stoxx; 50% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
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| Agent: | Barclays
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| Fees: | 4.75%
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| Cusip: | 06741VAL6
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