Published on 5/10/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $12.20 million contingent income callable notes on three indexes
New York, May 10 – Barclays Bank plc priced $12.20 million of contingent income callable securities due May 8, 2020 linked to the least 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.5% if each index closes at or above its coupon barrier, 70% of its initial index level, on each day during that quarter.
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, 65% of its initial level, the payout at maturity will be par plus the final contingent coupon, if any. 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 acting as a dealer.
Issuer: | Barclays Bank plc
|
Issue: | Contingent income callable securities
|
Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
|
Amount: | $12,195,000
|
Maturity: | May 8, 2020
|
Coupon: | 8.5% per year, payable quarterly if each index closes at or above its coupon barrier level on each day during that quarter
|
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 least-performing index
|
Call option: | At par on any quarterly determination date other than final one
|
Initial levels: | 1,396.995 for Russell 2000, 2,399.29 for S&P 500 and 3,658.79 for Euro Stoxx 50
|
Coupon barriers: | 977.897 for Russell 2000, 1,679.503 for S&P 500 and 2,561.153 for Euro Stoxx 50; 70% of initial levels
|
Downside thresholds: | 908.047 for Russell 2000, 1,559.539 for S&P 500 and 2,378.214 for Euro Stoxx 50; 65% of initial levels
|
Pricing date: | May 5
|
Settlement date: | May 10
|
Agent: | Barclays
|
Selected dealer: | Morgan Stanley Wealth Management
|
Fees: | 2.25%
|
Cusip: | 06741VUM2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.