A story in the March 12 edition of the Prospect News Structured Products Daily included an incorrect description of the payout at maturity for Barclays’ $116,000 of callable contingent coupon notes linked to the S&P 500 and Russell 2000 indexes. A corrected story follows:
New York, March 21 – Barclays Bank plc priced $116,000 of callable contingent coupon notes due Feb. 27, 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.
Each quarter, the notes pay a coupon at an annualized rate of 4.95% if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that quarter.
After one year, the notes are callable at par on any interest payment date.
The payout at maturity will be par.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $116,000
|
| Maturity: | Feb. 27, 2029
|
| Contingent coupon: | 4.95% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning one year after issuance
|
| Initial levels: | 2,792.38 for S&P 500 and 1,581.05 for Russell 2000
|
| Barrier levels: | 2,233.90 for S&P 500 and 1,264.84 for Russell 2000; 80% of initial levels
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 4
|
| Agent: | Barclays
|
| Fees: | 4%
|
| Cusip: | 06747MEU6
|
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