New Issue: Barclays sells $7.25 million contingent income callable notes on S&P

By Sarah Lizee

Olympia, Wash., Jan. 3 – Barclays Bank plc priced $7.25 million of contingent income callable securities due Jan. 3, 2029 linked to the S&P 500 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 8.1% if the index closes at or above its 75% coupon barrier on the related quarterly observation date.

The notes are callable in whole at par on any contingent payment date beginning July 3, 2019.

The payout at maturity will be par plus the final coupon, if any, unless the index finishes below its 60% 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
Issue:	Contingent income callable securities
Underlying index:	S&P 500 index
Amount:	$7,245,000
Maturity:	Jan. 3, 2029
Coupon:	8.1% per year, payable each quarter that index closes at or above coupon barrier on review date for that quarter
Price:	Par
Payout at maturity:	If index finishes at or above downside threshold, par plus final coupon, if any; otherwise, full exposure to any index decline
Call option:	In whole at par on any contingent payment date beginning July 3, 2019
Initial level:	2,485.74
Coupon barrier:	1,864.305, 75% of initial level
Downside threshold:	1,491.444, 60% of initial level
Pricing date:	Dec. 28
Settlement date:	Jan. 3
Agent:	Barclays
Selected dealer:	Morgan Stanley Wealth Management
Fees:	3.5%
Cusip:	06747M2Z8

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.