Published on 4/23/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.34 million callable contingent coupon notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, April 23 – Barclays Bank plc priced $1.34 million of callable contingent coupon notes due April 21, 2022 linked to the least performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at an annualized rate of 10.75% if each underlying asset closes at or above its coupon barrier level, 65% of its initial price, on the observation date for that period.
The notes will be callable in whole at par on any contingent coupon payment date.
If each asset finishes at or above its barrier level, 65% of its initial level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying assets: | S&P 500 index, SPDR S&P Oil & Gas Exploration & Production ETF
|
Amount: | $1,134,000
|
Maturity: | April 21, 2022
|
Contingent coupon: | 10.75% per year, payable semiannually if each underlying asset closes at or above coupon barrier level observation date for that period
|
Price: | Par
|
Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
|
Call option: | Callable at par on any contingent coupon payment date
|
Initial levels: | 2,905.03 for index, $31.81 for ETF
|
Coupon barriers: | 1,888.27 for index, $20.68 for ETF, 65% of initial levels
|
Barriers: | 1,888.27 for index, $20.68 for ETF, 65% of initial levels
|
Pricing date: | April 18
|
Settlement date: | April 26
|
Agent: | Barclays
|
Fees: | 2%
|
Cusip: | 06747MLS3
|
|
© 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.