Published on 11/15/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 10.35% autocallable fixed-coupon notes on Caesars Entertainment
By William Gullotti
Buffalo, N.Y., Nov. 15 – Barclays Bank plc priced $1 million of 10.35% autocallable fixed-coupon notes due Aug. 8, 2022 linked to the common stock of Caesars Entertainment, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if the stock closes at or above its initial level on any semiannual call valuation date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 70% of its initial level, in which cases investors will receive a number of shares equal to $10,000 divided by the initial value or, at the issuer’s option, the cash equivalent.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable fixed-coupon notes
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Underlying stock: | Caesars Entertainment, Inc.
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Amount: | $1 million
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Maturity: | Aug. 8, 2022
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Coupon: | 10.35%, payable monthly
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Price: | Par of $10,000
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Payout at maturity: | Par unless stock finishes below barrier level, in which case investors will receive 115.23392 shares per note or, at the issuer’s option, the cash equivalent
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Call: | At par if stock closes at or above initial level on any semiannual call valuation date
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Initial level: | $86.78
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Barrier level: | $60.75; 70% of initial level
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Pricing date: | Aug. 3
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Settlement date: | Aug. 6
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Agent: | Barclays
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Fees: | 1%
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Cusip: | 06741W3B4
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