Published on 2/6/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $29,000 callable contingent coupon notes on Russell, Dow, S&P
By Kiku Steinfeld
Chicago, Feb. 8 – Barclays Bank plc priced $29,000 of callable contingent coupon notes due Oct. 31, 2022 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a coupon at an annualized rate of 7.25% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that month.
The notes are callable at par on any interest payment date after three months.
If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par.
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: | Russell 2000, S&P 500 and Dow Jones industrial average
|
| Amount: | $29,000
|
| Maturity: | Oct. 31, 2022
|
| Contingent coupon: | 7.25% per year, payable monthly if each index closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par on any interest payment date after three months
|
| Initial levels: | 30,937.04 for Dow, 2,149.86 for Russell, 3,849.62 for S&P
|
| Coupon barriers: | 23,202.78 for Dow, 1,612.39 for Russell, 2,887.22 for S&P; 75% of initial levels
|
| Barrier levels: | 21,655.93 for Dow, 1,504.90 for Russell, 2,694.73for S&P; 70% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 29
|
| Agent: | Barclays
|
| Fees: | 2.175%
|
| Cusip: | 06747QXF9
|
|
|
|
|
© 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.
