Published on 7/27/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million callable contingent coupon notes on stocks
By Kiku Steinfeld
Chicago, July 27 – Barclays Bank plc priced $2 million of callable contingent coupon notes due July 19, 2024 linked to the worst performing of the common stocks of Amazon.com, Inc., Tesla, Inc., Zoom Video Communications, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 20% if each underlier closes at or above its coupon barrier level, 50% 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 one year.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its final barrier, 50% of its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below 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 assets: | Amazon.com, Inc., Tesla, Inc., Zoom Video Communications, Inc. and Netflix, Inc.
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| Amount: | $2 million
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| Maturity: | July 19, 2024
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| Contingent coupon: | 20% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any underlier closes below its final barrier, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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| Call option: | In whole at par plus any coupon due on any monthly call date after one year
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| Initial levels: | $3,573.63 for Amazon, $361.97 for Zoom, $644.22 for Tesla, $530.31 for Netflix
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| Coupon barriers: | $1,786.82 for Amazon, $180.98 for Zoom, $322.11 for Tesla, $265.16 for Netflix; 50% of initial levels
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| Final barrier levels: | $1,786.82 for Amazon, $180.98 for Zoom, $322.11 for Tesla, $265.16 for Netflix; 50% of initial levels
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| Pricing date: | July 16
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| Settlement date: | July 21
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| Agent: | Barclays
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| Fees: | 0.65%
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| Cusip: | 06748W3V3
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