Published on 2/7/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $606,000 callable contingent coupon notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Feb. 7 – Barclays Bank plc priced $606,000 of callable contingent coupon notes due Feb. 8, 2024 linked to the least performing of the S&P 500 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 7.15% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period.
At Barclays’ option, the notes will be callable in whole at par on any coupon payment date after one year prior to maturity.
If each index finishes at or above its barrier level, 60% 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
|
Underlying indexes: | S&P 500, Russell 2000
|
Amount: | $606,000
|
Maturity: | Feb. 8, 2024
|
Contingent coupon: | 7.15% per year, payable quarterly if each index closes at or above coupon barrier level on the observation date for that period
|
Price: | Par
|
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 coupon payment date after one year prior to maturity
|
Initial levels: | 2,724.87 for S&P and 1,517.54 for Russell
|
Coupon barriers: | 1,634.92 for S&P and 910.52 for Russell; 60% of initial levels
|
Barrier values: | 1,634.92 for S&P and 910.52 for Russell; 60% of initial levels
|
Pricing date: | Feb. 4
|
Settlement date: | Feb. 7
|
Agent: | Barclays
|
Fees: | 0.975%
|
Cusip: | 06747MDK9
|
© 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.