Published on 8/8/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $720,000 callable contingent coupon notes on Russell, Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Aug. 8 – Barclays Bank plc priced $720,000 of callable contingent coupon notes due July 31, 2020 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at an annualized rate of 8.1% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes are callable at par on any contingent coupon payment date.
The payout at maturity will be par plus the final coupon unless the final level of the least performing index is less than its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least performing index from its initial level.
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: | $720,000
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| Maturity: | July 31, 2020
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| Contingent coupon: | 8.1% per year, payable semiannually if each index closes at or above coupon barrier level on observation date for that period
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus final coupon unless final level of least performing index is less than barrier level, in which case 1% loss for each 1% decline of least performing index from initial level
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| Call option: | At par plus any coupon on any contingent coupon payment date
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| Initial index levels: | 1,429.26 for Russell and 3,467.73 for Stoxx
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| Coupon barrier levels: | 1,000.48 for Russell and 2,427.41 for Stoxx; 70% of initial levels
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| Barrier levels: | 1,000.48 for Russell and 2,427.41 for Stoxx; 70% of initial levels
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| Pricing date: | July 28
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| Settlement date: | Aug. 2
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| Agent: | Barclays
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| Fees: | 0.7%
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| Cusip: | 06744CDG3
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