Published on 6/27/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $365,000 callable contingent coupon notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., June 27 – Barclays Bank plc priced $365,000 of callable contingent coupon notes due June 28, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 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% if each underlying asset closes at or above its coupon barrier level, 70% of the initial value, on the related quarterly observation date.
The notes will be callable in whole at par on any contingent coupon payment date.
If each asset finishes at or above its 70% barrier 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 indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $365,000
|
| Maturity: | June 28, 2024
|
| Contingent coupon: | 7% per year, payable each quarter that each underlying asset closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above barrier value, par; otherwise, full exposure to decline of least-performing asset
|
| Call option: | At par on any contingent coupon payment date
|
| Initial values: | 2,917.38 for S&P, 1,521.04 for Russell
|
| Coupon barriers: | 2,042.17 for S&P, 1,064.73 for Russell; 70% of initial values
|
| Barrier values: | 2,042.17 for S&P, 1,064.73 for Russell; 70% of initial values
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06747MY91
|
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