Published on 3/13/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.55 million callable contingent coupon notes on ETFs
By Wendy Van Sickle
Columbus, Ohio, March 13 – Barclays Bank plc priced $4.55 million of callable contingent coupon notes due March 8, 2023 linked to the least performing of the VanEck Vectors Junior Gold Miners ETF and the SPDR S&P 500 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 14.5% if each underlying asset closes at or above its coupon barrier level, 80% 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 after one year.
If each asset finishes at or above its barrier level, 63.85% 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: | VanEck Vectors Junior Gold Miners ETF and the SPDR S&P 500 ETF
|
Amount: | $4,545,000
|
Maturity: | March 8, 2023
|
Contingent coupon: | 9.25% per year, payable quarterly 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 after one year
|
Initial levels: | $39.71 for gold ETF, $300.24 for S&P ETF
|
Coupon barriers: | $31.77 for EM ETF, $240.19 for S&P ETF, 80% of initial levels
|
Barriers: | $25.35 for EM ETF, $191.70 for S&P ETF, 63.85% of initial levels
|
Pricing date: | March 3
|
Settlement date: | March 6
|
Agent: | Barclays
|
Fees: | 2%
|
Cusip: | 06747PGD5
|
|
© 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.