Published on 7/14/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 callable contingent coupon notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, July 15 – Barclays Bank plc priced $500,000 of callable contingent coupon notes due Dec. 10, 2026 linked to the least performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 7.25% if each index closes at or above its coupon barrier level, 80% of the initial value, on the related monthly observation date.
The notes will be callable in whole at par on any contingent coupon payment date after one year.
If each index finishes at or above its 80% barrier level, the payout at maturity will be par. Otherwise, investors will receive the return of the least performing index beyond the 20% buffer.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $500,000
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| Maturity: | Dec. 10, 2026
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| Contingent coupon: | 7.25% per year, payable each month that each underlying index closes at or above coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 80% barrier value, par plus any coupon; otherwise exposure to losses of least performing index beyond 20% buffer
|
| Call option: | At par on any contingent coupon payment date after one year
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| Initial values: | 1,514.39 for Russell, 7,417.29 for Nasdaq
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| Coupon barriers: | 1,211.51 for Russell; 5,933.83 for Nasdaq; 80% of initial values
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| Pricing date: | June 7
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| Settlement date: | June 12
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| Agent: | Barclays Capital Inc.
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| Fees: | 3.75%
|
| Cusip: | 06747MYP5
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