Published on 5/17/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $600,000 10.5% contingent coupon callables tied to three indexes
By Susanna Moon
Chicago, May 17 – Barclays Bank plc priced $600,000 of callable contingent coupon notes due May 9, 2028 linked to the lesser 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 annual rate of 10.5% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any underlying asset closes below its 50% trigger 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 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $600,000
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| Maturity: | May 9, 2028
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| Coupon: | 10.5% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 50%, 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: | 2,663.42 for S&P, 1,565.60 for Russell and 3,550.59 for Stoxx
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| Coupon barriers: | 1,864.39 for S&P, 1,095.92 for Russell and 2,485.41 for Stoxx; 70% of initial levels
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| Trigger levels: | 1,331.42 for S&P, 782.80 for Russell and 1,775.30 for Stoxx; 50% of initial levels
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| Pricing date: | May 4
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| Settlement date: | May 9
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| Agent: | Barclays
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| Fees: | 0.5%
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| Cusip: | 06746XBK8
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