Published on 6/9/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.87 million contingent income callable notes on three indexes
By Susanna Moon
Chicago, June 9 – Barclays Bank plc priced $4.87 million of contingent income callable securities due May 31, 2019 linked to the lesser 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.15% if each index closes at or above its 70% coupon barrier on each day during that quarter.
The notes are callable at par on any quarterly determination date other than the final date after six months.
If each index finishes at or above its 65% downside threshold, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $4.87 million
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| Maturity: | May 31, 2019
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| Coupon: | 8.15% per year, payable quarterly if each index closes at or above its coupon barrier level on each day during that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, full exposure to decline of worst performing index
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| Call option: | At par on any quarterly determination date other than final date after six months
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| Initial levels: | 1,382.244 for Russell, 2,415.82 for S&P and 3,579.02 for Stoxx
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| Coupon barriers: | 967.571 for Russell, 1,691.074 for S&P and 2,505.314 for Stoxx; 70% of initial levels
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| Downside thresholds: | 898.459 for Russell, 1,570.283 for S&P and 2,326.363 for Stoxx; 65% of initial levels
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 1%
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| Cusip: | 06741VW32
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