Published on 1/28/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.28 million phoenix autocallable notes linked to three stocks
By Wendy Van Sickle
Columbus, Ohio, Jan. 28 – Barclays Bank plc priced $1.28 million of phoenix autocallable notes due Sept. 5, 2024 linked to least performing of stocks of Ford Motor Co., General Motors Co. and Tesla, Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12.6% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if each stock closes at or above 90% of its initial level on any monthly call observation date after three months.
If the notes are not called and each stock finishes at or above its 60% barrier level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the laggard stock.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying stocks: | Ford Motor Co., General Motors Co., Tesla, Inc.
|
Amount: | $1.28 million
|
Maturity: | Sept. 5, 2024
|
Coupon: | 12.6% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | If each stock finishes at or above barrier level, par plus final coupon; otherwise, full exposure to decline of laggard stock
|
Call: | Automatically at par plus coupon if each stock closes at or above 90% of initial level on any monthly observation date after three months
|
Initial levels: | $13.05 for Ford, $49.17 for General Motors, $730.91 for Tesla
|
Coupon barriers: | $7.83 for Ford, $29.50 for General Motors, $438.55 for Tesla; 60% of initial levels
|
Final barriers: | $7.83 for Ford, $29.50 for General Motors, $438.55 for Tesla; 60% of initial levels
|
Pricing date: | Aug. 30
|
Settlement date: | Sept. 3
|
Agent: | Barclays
|
Fees: | 3.5%
|
Cusip: | 06741WEE9
|
|
© 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.