Published on 4/2/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.22 million callable contingent coupon notes linked to indexes
By Angela McDaniels
Tacoma, Wash., April 2 – Barclays Bank plc priced $1.22 million of callable contingent coupon notes due March 30, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 8.4% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The notes are callable at par on any interest payment date.
If each index finishes at or above its barrier 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
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Issue: | Callable contingent coupon notes
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Underlying indexes: | S&P 500, Russell 2000 and Nasdaq-100
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Amount: | $1,223,000
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Maturity: | March 30, 2022
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Contingent coupon: | 8.4% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
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Call option: | At par on any interest payment date
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Initial levels: | 2,818.46 for S&P 500, 1,528.17 for Russell 2000 and 7,351.15 for Nasdaq-100
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Barrier levels: | 1,972.92 for S&P 500, 1,069.72 for Russell 2000 and 5,145.81 for Nasdaq-100, or 70% of initial levels
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Pricing date: | March 26
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Settlement date: | March 29
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06747MHL3
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