Published on 8/18/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.66 million contingent coupon callables on indexes
By Susanna Moon
Chicago, Aug. 18 – Barclays Bank plc priced $5.66 million of callable contingent coupon notes due Aug. 20, 2020 linked to the least performing of the Russell 2000 index, the 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 quarterly coupon at an annual rate of 8.55% if each index closes at or above its 70% coupon barrier on review date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any index finishes below its 70% trigger, in which case investors will be fully exposed to any losses 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 index, S&P 500 index and Euro Stoxx 50
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Amount: | $5,658,000
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Maturity: | Aug. 20, 2020
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Coupon: | 8.55% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any index finishes below trigger level, 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: | 1,383.237 for Russell, 2,464.61 for S&P and 3,461.91 for Stoxx
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Triggers: | 968.27 for Russell, 1,725.23 for S&P and 2,423.34 for Stoxx; 70% of initial levels
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Pricing date: | Aug. 15
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Settlement date: | Aug. 18
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06744CGW5
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