Published on 4/3/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $900,000 10.6% contingent coupon callables tied to index, fund
By Susanna Moon
Chicago, April 3 – Barclays Bank plc priced $900,000 of callable contingent coupon notes due March 21, 2028 linked to the least performing of the iShares MSCI Emerging Markets ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.6% if each underlying asset closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date beginning with the fourth observation date.
The payout at maturity will be par unless either underlying asset closes below its 60% trigger level, in which case investors will be exposed to any losses of the worse performing index or fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Euro Stoxx 50 and iShares MSCI Emerging Markets ETF
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| Amount: | $900,000
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| Maturity: | March 21, 2028
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| Coupon: | 10.6% annualized, payable quarterly if each asset closes at or above its 75% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either asset falls by more than 40%, in which case 1% loss per 1% decline of worse performing index or fund
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| Call option: | At par on any interest payment date beginning with fourth observation date
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| Initial levels: | 3,437.40 for Stoxx, $49.21 for fund
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| Trigger levels: | 2,578.05 for Stoxx, $29.53 for fund, 75% of initial levels
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| Trigger levels: | 2,062.44 for Stoxx, $36.91 for fund, 60% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | Barclays
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| Fees: | 3.15%
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| Cusip: | 06746X2N2
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