Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $110,000 phoenix autocallable notes on three stocks
Chicago, May 31 – Barclays Bank plc priced $110,000 of phoenix autocallable notes due Nov. 19, 2024 linked to the least performing of the stocks of Amazon.com, Inc., Tesla, Inc. and Costco Wholesale Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above 100% of its initial level on any monthly call observation date after three months.
The payout at maturity will be par, unless any stock finishes below 60% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock, payable in shares or cash at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Amazon.com, Inc., Tesla, Inc. and Costco Wholesale Corp.
|
| Amount: | $110,000
|
| Maturity: | Nov. 19, 2024
|
| Coupon: | 12% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock, payable in shares or cash at the issuer’s option
|
| Call: | At par plus contingent coupon if each stock closes at or above 100% of its initial level on any monthly call observation date after three months
|
| Initial levels: | $3,545.68 for Amazon, $1,013.39 for Tesla, $519.89 for Costco
|
| Coupon barriers: | $2,127.41 for Amazon, $608.03 for Tesla, $311.93 for Costco; 60% of initial levels
|
| Final barriers: | $2,127.41 for Amazon, $608.03 for Tesla, $311.93 for Costco; 60% of initial levels
|
| Physical delivery amounts: | 0.28203 for Amazon, 0.98679 for Tesla, 1.92348 for Costco
|
| Pricing date: | Nov. 15, 2021
|
| Settlement date: | Nov. 17, 2021
|
| Agent: | Barclays
|
| Fees: | 4%
|
| Cusip: | 06741WK82
|
|
|
© 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.
