Published on 1/26/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.53 million callable contingent coupon notes on biotech ETF, oil fund, S&P
By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – Barclays Bank plc priced $1.53 million of callable contingent coupon notes due July 22, 2021 linked to the United States Oil Fund, LP, the P SPDR S&P Biotech ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 10% if each asset closes at or above 60% of its initial level on the observation date that period.
The notes are callable at par on any coupon payment date after one ear.
The payout at maturity will be par plus the final coupon unless any asset declines by more than 40%, in which case investors will lose 1% for every 1% that the least-performing asset declines from its initial level.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | United States Oil Fund, LP, SPDR S&P Biotech ETF and S&P 500 index
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| Amount: | $1,526,000
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| Maturity: | July 22, 2021
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| Coupon: | 10% per year, payable each quarter that each asset closes at or above 60% of initial level on observation date that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any asset declines by more than 40%, in which case 1% loss for every 1% that least-performing asset declines from initial level
|
| Call option: | At par on any coupon payment date after one year
|
| Initial levels: | 2,810.30 for S&P and $88.92 for biotech ETF, $12.72 for oil fund
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| Coupon barrier/barriers: | 1,686.18 for S&P and $53.35 for biotech ETF, $7.63 for oil fund; 60% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 26
|
| Underwriter: | Barclays
|
| Fees: | 0.75%
|
| Cusip: | 06744CSJ1
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