Published on 1/2/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.87 million callable contingent coupon notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – Barclays Bank plc priced $1.87 million of callable contingent coupon notes due June 29, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 8.35% if each index closes at or above its coupon barrier value, 70% of its initial level, on the observation date for that period.
After one year, the notes are callable at par plus any coupon due on any coupon payment date other than the final one.
If each index finishes at or above its barrier value, 70% of its initial 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1,869,000
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Maturity: | June 29, 2023
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Contingent coupon: | 8.35% initially, payable quarterly if each index closes at or above coupon barrier value on observation date for that period
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier value, par; otherwise, full exposure to losses of least-performing index
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Call option: | After one year at par plus any coupon due on any coupon payment date other than final one
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Initial levels: | 1,677.67 for Russell, 3,239.91 for S&P, 8,778.313 for Nasdaq
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Coupon barriers: | 1,174.369 for Russell, 2,267.937 for S&P, 6,583. 73475 for Nasdaq, 70% of initial levels
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Barrier values: | 1,174.369 for Russell, 2,267.937 for S&P, 6,583. 73475 for Nasdaq, 70% of initial levels
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Pricing date: | Dec. 26
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Settlement date: | Dec. 31
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06747NVP6
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