Published on 5/7/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.73 million callable contingent coupon notes on Nasdaq, Russell, ETF
By Kiku Steinfeld
Chicago, May 7 – Barclays Bank plc priced $1.73 million of callable contingent coupon notes due April 30, 2024 linked to the least performing of the Financial Select Sector SPDR fund, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each underlying closes at or above its barrier level, 70% of its initial level, on the observation date for that quarterly period.
The notes are callable on any observation date after six months.
The payout at maturity will be par unless any underlying finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing underlying from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlyings: | Financial Select Sector SPDR fund, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1.73 million
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| Maturity: | April 30, 2024
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| Contingent coupon: | 9.25% per year, payable quarterly if each underlying closes at or above barrier level on observation date for that period
|
| Price: | Par
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| Payout at maturity: | If each underlying finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing underlying
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| Call option: | At par on any observation date after six months
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| Initial levels: | 13,941.44 for Nasdaq, $35.38 for ETF, 2,271.86 for Russell
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| Coupon levels: | 9,759.01 for Nasdaq$24.77 for ETF, 1,590.30 Russell; 70% of initial levels
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| Final barrier levels: | 8,364.86 for Nasdaq, $21.23 for ETF, 1,363.11 for Russell; 60% of initial levels
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| Pricing date: | April 23
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| Settlement date: | April 28
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| Agent: | Barclays
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| Fees: | 0.9%
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| Cusip: | 06748ELB7
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