Published on 12/29/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.32 million 6.1% contingent income callables tied to three indexes
By Susanna Moon
Chicago, Dec. 29 – Barclays Bank plc priced $5.32 million of contingent income callable securities due June 25, 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 annualized rate of 6.1% if each index closes at or above its 60% coupon threshold on any trading day for that quarter.
The notes will be callable at par on any quarterly determination date other than the final date after six months.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 60% downside threshold, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $5,315,000
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| Maturity: | June 25, 2020
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| Coupon: | 6.1% per year, payable quarterly if each index closes at or above 60% coupon threshold on every day that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, full exposure to decline of worst performing index
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| Call option: | At par on any interest payment date other than final date after six months
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| Initial levels: | 1,540.076 for Russell, 2,679.25 for S&P and 3,552.65 for Stoxx
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| Thresholds: | 924.046 for Russell, 1,607.55 for S&P and 2,131.59 for Stoxx; 60% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 27
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.5%
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| Cusip: | 06744CPH8
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