Published on 6/25/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.21 million phoenix autocallable notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., June 25 – Barclays Bank plc priced $2.21 million of phoenix autocallable notes due July 1, 2024 linked to the least performing of the Energy Select Sector SPDR fund, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6% if each underlier closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par unless any underlier finishes below 60% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying assets: | Energy Select Sector SPDR fund, Russell 2000 index, Nasdaq-100 index
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Amount: | $2,213,000
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Maturity: | July 1, 2024
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Coupon: | 6% annualized, payable monthly if each underlier closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless any underlier finishes below final barrier, in which case 1% loss for each 1% decline of the worst performer
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any monthly call observation date after six months
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Initial levels: | 14,270.42 for Nasdaq, 2,295.95 for Russell, $54.43 for ETF
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Coupon barriers: | 9,989.29 for Nasdaq, 1,607.16 for Russell, $38.10 for ETF; 70% of initial levels
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Final barriers: | 8,562.25 for Nasdaq, 1,377.57 for Russell, $32.66 for ETF; 60% of initial levels
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Pricing date: | June 22
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Settlement date: | June 29
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Agent: | Barclays
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Fees: | 3%
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Cusip: | 06748EYL1
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