Published on 10/31/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million callable contingent coupon notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – Barclays Bank plc priced $2 million of callable contingent coupon notes due Oct. 29, 2027 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 10.75% 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 interest payment date.
If each index finishes at or above its barrier level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-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: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $2 million
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| Maturity: | Oct. 29, 2027
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| Contingent coupon: | 10.75% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
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| Call option: | At par on any interest payment date
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| Initial index levels: | 2,560.40 for S&P 100, 1,497.46 for Russell 2000 and 3,637.20 for Euro Stoxx 50
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| Coupon barriers: | 1,792.28 for S&P 500, 1,048.22 for Russell 2000 and 2,546.04 for Euro Stoxx 50; 70% of initial levels
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| Barrier levels: | 1,657.92 for S&P 500, 970.76 for Russell 2000 and 2,334.45 for Euro Stoxx 50; 65% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | Barclays
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| Fees: | 1.05%
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| Cusip: | 06744CJ51
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