Published on 8/19/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $963,000 callable contingent coupon notes on MSCI EM, Nasdaq, Dow
By William Gullotti
Buffalo, N.Y., Aug. 19 – Barclays Bank plc priced $963,000 of callable contingent coupon notes due May 16, 2024 linked to the worst performing of the Nasdaq-100 index, the MSCI Emerging Markets index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 7.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly call date after six months.
If the notes are not redeemed early, the payout at maturity will be par unless any index finishes below its 70% final barrier level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | MSCI Emerging Markets index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $963,000
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| Maturity: | May 16, 2024
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| Contingent coupon: | 7.5% per year, payable monthly if each index closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its final barrier level, in which case full exposure to decline of least performing index
|
| Call option: | In whole at par plus any coupon due on any monthly call date after six months
|
| Initial levels: | 34,269.16 for Dow, 1,329.08 for MSCI EM, 13,351.27 for Nasdaq
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| Coupon barrier levels: | 23,988.41 for Dow, 930.36 for MSCI EM, 9,345.89 for Nasdaq; 70% of initial levels
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| Final barrier levels: | 23,988.41 for Dow, 930.36 for MSCI EM, 9,345.89 for Nasdaq; 70% of initial levels
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| Pricing date: | May 11
|
| Settlement date: | May 14
|
| Agent: | Barclays
|
| Fees: | 3.1254%
|
| Cusip: | 06748EQM8
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