Published on 3/14/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.12 million callable contingent coupon notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., March 14 – Barclays Bank plc priced $2.12 million of callable contingent coupon notes due March 15, 2029 linked to the lesser 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 7.75% 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, after six months the notes will be callable in whole at par plus any coupon on any coupon payment date prior to maturity.
The payout at maturity will be par plus the final coupon unless either index’s final level is less than 60% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $2.12 million
|
| Maturity: | March 15, 2029
|
| Contingent coupon: | 7.75% 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 plus any coupon on any coupon payment date prior to maturity after six months
|
| Initial levels: | 2,791.52 for S&P and 1,549.84 for Russell
|
| Coupon barriers: | 1,674.91 for S&P and 929.90 for Russell; 60% of initial levels
|
| Pricing date: | March 12
|
| Settlement date: | March 15
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06747MJH0
|
© 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.
