Published on 8/20/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $7.35 million contingent income callable notes tied to Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – Barclays Bank plc priced $7.35 million of contingent income callable securities due Aug. 18, 2028 linked to 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 annualized rate of 8% if the index closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly determination date other than the final date after one year.
The payout at maturity will be par plus the final coupon unless the index finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
Issuer: | Barclays Bank plc
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Issue: | Contingent income callable securities
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Underlying index: | Euro Stoxx 50
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Amount: | $7,347,000
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Maturity: | Aug. 18, 2028
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Coupon: | 8% per year, payable quarterly if index closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | If index finishes at or above downside threshold, par; otherwise, full exposure to any decline
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Call option: | At par on any quarterly determination date other than final date after a year
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Initial level: | 3,359.08
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Coupon barrier: | 2,519.31, 75% of initial level
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Downside threshold: | 2,183.402, 65% of initial level
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Pricing date: | Aug. 15
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Settlement date: | Aug. 20
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Agent: | Barclays
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 3.5%
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Cusip: | 06746XLN1
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