Published on 3/10/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.9 million callable contingent coupon notes on ETFs
By Sarah Lizee
Olympia, Wash., March 10 – Barclays Bank plc priced $1.9 million of callable contingent coupon notes due March 3, 2023 linked to the least performing of the iShares MSCI Emerging Markets ETF and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon at an annualized rate of 9.25% if each underlying asset closes at or above its coupon barrier level, 60% of its initial price, on the observation date for that period.
The notes will be callable at par plus any coupon due on any contingent coupon payment date.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par plus the coupon.
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: | iShares MSCI Emerging Markets ETF and the SPDR S&P Biotech ETF
|
Amount: | $1,904,000
|
Maturity: | March 3, 2023
|
Contingent coupon: | 9.25% 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 plus coupon; otherwise, full exposure to losses of least-performing asset
|
Call option: | Callable at par plus any coupon due on any contingent coupon payment date
|
Initial levels: | $40.52 for EM ETF, $89.18 for biotech ETF
|
Coupon barriers: | $24.31 for EM ETF, $53.51 for biotech ETF, 60% of initial levels
|
Barriers: | $24.31 for EM ETF, $53.51 for biotech ETF, 60% of initial levels
|
Pricing date: | Feb. 28
|
Settlement date: | March 4
|
Agent: | Barclays
|
Fees: | 0.45%
|
Cusip: | 06747PEE5
|
|
© 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.