Published on 6/22/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $700,000 callable contingent coupon notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, June 22 – Barclays Bank plc priced $700,000 of callable contingent coupon notes due June 13, 2024 linked to the worst performing of the shares of Facebook, Inc., Apple Inc. and Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 10.15% if each asset closes at or above its coupon barrier level, 60% 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 three months.
If the notes are not redeemed early, the payout at maturity will be par unless any asset finishes below its 60% final barrier level, in which case investors will be fully exposed to the decline of the least performing asset 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 assets: | Apple Inc., Facebook, Inc., Chevron Corp.
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| Amount: | $700,000
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| Maturity: | June 13, 2024
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| Contingent coupon: | 10.15% per year, payable monthly if each asset closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its final barrier level, in which case full exposure to decline of least performing asset
|
| Call option: | In whole at par plus any coupon due on any monthly call date after three months
|
| Initial levels: | $126.11 for Apple, $332.46 for Facebook, $108.41 for Chevron
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| Coupon barriers: | $75.67 for Apple, $199.48 for Facebook, $60.05 for Chevron; 60% of initial levels
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| Final barrier levels: | $75.67 for Apple, $199.48 for Facebook, $60.05 for Chevron; 60% of initial levels
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| Pricing date: | June 10
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| Settlement date: | June 15
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| Agent: | Barclays
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| Fees: | 0.96%
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| Cusip: | 06748EWW9
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