Published on 4/6/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.84 million phoenix autocallable notes on three stocks
By Kiku Steinfeld
Chicago, April 6 – Barclays Bank plc priced $1.84 million of phoenix autocallable notes due Sept. 27, 2024 linked to the least performing of the stocks of Roku, Inc., NIKE, Inc. and FedEx 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 14% 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.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Roku, Inc., NIKE, Inc. and FedEx Corp.
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| Amount: | $1,842,000
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| Maturity: | Sept. 27, 2024
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| Coupon: | 14% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
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| 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
|
| 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
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| Initial level: | $321.89 for Roku, $149.59 for NIKE, $226.64 for FedEx
|
| Coupon barriers: | $193.13 for Roku, $89.75 for NIKE, $135.98 for FedEx; 60% of initial levels
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| Final barriers: | $193.13 for Roku, $89.75 for NIKE, $135.98 for FedEx; 60% of initial levels
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| Pricing date: | Sept. 24, 2021
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| Settlement date: | Sept. 29, 2021
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| Agent: | Barclays
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| Fees: | 3.25%
|
| Cusip: | 06748WGA5
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