Published on 5/3/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.55 million callable contingent coupon notes tied to two indexes
By Wendy Van Sickle
Columbus, Ohio, May 3 – Barclays Bank plc priced $3.55 million of callable contingent coupon notes due April 28, 2028 linked to the least performing of the Euro Stoxx Banks index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 9% if each index closes at or above its coupon barrier level, 55% of its initial level, on the observation date that period.
The notes will be callable in whole at par on any observation date.
If each index finishes at or above its barrier level, 55% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000, Euro Stoxx Banks
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| Amount: | $3,553,000
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| Maturity: | April 28, 2028
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| Contingent coupon: | 9% per year, payable each quarter that each index closes at or above coupon barrier level observation date that period
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par on any observation date
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| Initial index levels: | 1,550.47 for Russell, 130.05 for Stoxx
|
| Coupon barriers: | 852.76 for Russell, 71.53 for Stoxx; 55% of initial levels
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| Barrier levels: | 852.76 for Russell, 71.53 for Stoxx; 55% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | Barclays
|
| Fees: | 4.5%
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| Cusip: | 06746X4V2
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