Published on 12/14/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 contingent coupon callables on Euro Stoxx, EM fund
By Tali Rackner
Minneapolis, Dec. 14 – Barclays Bank plc priced $500,000 of callable contingent coupon notes due Dec. 2, 2022 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.5% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either underlying asset finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the lesser-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
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| Amount: | $500,000
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| Maturity: | Dec. 2, 2022
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| Coupon: | 8.5% per year, payable quarterly if each underlying asset closes at or above 70% coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If each underlying asset finishes at or above barrier level, par; otherwise, full exposure to decline of lesser-performing asset
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| Call option: | At par on any interest payment date
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| Initial levels: | 3,589.91 for Euro Stoxx and $46.61 for EM ETF
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| Barrier levels: | 2,153.95 for Euro Stoxx and $27.97 for EM ETF; 60% of initial levels
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| Coupon barrier levels: | 2,512.94 for Euro Stoxx and $32.63 for EM ETF; 70% of initial levels
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 4
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| Agent: | Barclays
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| Fees: | 1.075%
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| Cusip: | 06744CMT5
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