Published on 3/7/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.54 million 8.2% contingent coupon callables on indexes
By Susanna Moon
Chicago, March 7 – Barclays Bank plc priced $4.54 million of callable contingent coupon notes due Feb. 22, 2023 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8.2% if each index closes at or above its 60% coupon barrier on the review date for that period.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any index closes below its 60% barrier level, in which case investors will be exposed to any losses of the worst 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: | Russell 2000, S&P 500 and Dow Jones industrial average
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Amount: | $4,544,000
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Maturity: | Feb. 22, 2023
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Coupon: | 8.2% annualized, payable semiannually if each index closes at or above its 60% coupon barrier on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless any index falls by more than 40%, in which case 1% loss per 1% decline of worst performing index
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Call option: | At par on any interest payment date
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Initial levels: | 1,543.551 for Russell, 2,732.22 for S&P and 25,219.38 for Dow
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Barrier levels: | 926.13 for Russell, 1,639.33 for S&P and 15,131.63 for Dow, 60% of initial levels
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Pricing date: | Feb. 16
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Settlement date: | Feb. 22
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Agent: | Barclays
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Fees: | 1.125%
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Cusip: | 06744CWT4
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