Published on 4/7/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $515,000 callable contingent coupon notes on Dow, Russell, S&P
Chicago, April 7 – Barclays Bank plc priced $515,000 of callable contingent coupon notes due March 20, 2023, linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 6.5% if each index closes at or above its coupon barrier level, 55% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date starting after six months.
If each index finishes at or above its final barrier level, 55% of its initial level, the payout at maturity will be par plus any coupon. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
|
Amount: | $515,000
|
Maturity: | March 20, 2023
|
Contingent coupon: | 6.5% per year, payable quarterly if each index closes at or above coupon barrier on the valuation date for that period
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above final barrier, par plus any coupon; otherwise, full exposure to losses of least-performing index
|
Call option: | In whole at par plus any coupon due on any quarterly valuation date after six months
|
Initial level: | 32,953.46 for Dow, 3,968.94 for S&P, 2,360.17 for Russell
|
Coupon barrier levels: | 18,124.40 for Dow, 2,182.92 for S&P, 1,298.10 for Russell, 55% of initial levels
|
Final barriers: | 18,124.40 for Dow, 2,182.92 for S&P, 1,298.10 for Russell, 55% of initial levels
|
Pricing date: | March 17
|
Settlement date: | March 22
|
Agent: | Barclays
|
Fees: | 0.4%
|
Cusip: | 06748EFF5
|
© 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.