Published on 1/18/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.01 million callable contingent coupon notes on indexes, ETF
By Tali Rackner
Minneapolis, Jan. 18 – Barclays Bank plc priced $1.01 million of callable contingent coupon notes due Jan. 18, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each underlying closes at or above its barrier level, 60% of its initial level, on the observation date for that quarterly period.
The notes are callable on any contingent coupon payment date prior to maturity.
The payout at maturity will be par plus the final contingent coupon unless any underlying finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing underlying from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlyings: | S&P 500 index, Russell 2000 index and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,008,000
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| Maturity: | Jan. 18, 2023
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| Contingent coupon: | 9% per year, payable quarterly if each underlying closes at or above barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | If each underlying finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing underlying
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| Call option: | At par on any contingent coupon payment date prior to maturity
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| Initial levels: | 2,786.24 for S&P, 1,591.97 for Russell and $39.72 for ETF
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| Barrier levels: | 1,671.74 for S&P, 955.18 for Russell and $23.83 for ETF; 60% of initial levels
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 18
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| Agent: | Barclays
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| Fees: | 1.075%
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| Cusip: | 06744CSM4
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