Published on 8/9/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $700,000 contingent coupon callables on three indexes
By Susanna Moon
Chicago, Aug. 9 – Barclays Bank plc priced $700,000 of callable contingent coupon notes due Aug. 5, 2021 linked to the least performing of the Russell 2000 index, S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 5% if each index closes at or above its 52.5% coupon barrier on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning Feb. 12, 2018.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 52.5% barrier level, in which case investors will lose 1% for each 1% decline of the worst 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, S&P 500 index and Euro Stoxx 50
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| Amount: | $700,000
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| Maturity: | Aug. 5, 2021
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| Contingent coupon: | 5% per year, payable semiannually if each index closes at or above 52.5% coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index falls below 52.5% barrier, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par plus any coupon on any contingent coupon payment date
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| Initial levels: | 1,412.90 for Russell, 2,477.57 for S&P and 3,459.32 for Stoxx
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| Barrier levels: | 741.77 for Russell, 1,300.72 for S&P and 1,816.14 for Stoxx; 52.5% of initial levels
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| Pricing date: | Aug. 2
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| Settlement date: | Aug. 9
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| Agent: | Barclays
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| Fees: | 2.65%
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| Cusip: | 06744CFC0
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