Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.25 million of 9% autocallable fixed-coupon notes on three stocks
Chicago, May 17 – Barclays Bank plc priced $1.25 million of 9% autocallable fixed-coupon notes due Oct. 24, 2024 linked to the least performing of the common stocks of Ford Motor Co., Tesla, Inc. and General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the least-performing stock closes at or above 100% of its initial price on any monthly call observation date after one year.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any stock finishes below the 50% barrier price, in which case investors will be exposed to all losses, payable in shares or cash at the option of the issuer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stocks: | Ford Motor Co., Tesla, Inc. and General Motors Co.
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| Amount: | $1,250,000
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| Maturity: | Oct. 24, 2024
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| Coupon: | 9%, payable monthly
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| Price: | Par
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| Call: | At par plus the coupon if all stocks close at or above 100% of their initial prices on any monthly call observation date after one year
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| Payout at maturity: | Par unless any stock finishes below the barrier price, in which case exposure to all losses, payable in shares or cash at option of issuer
|
| Initial prices: | $16.55 for Ford, $894 for Tesla, $58.41 for GM
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| Barrier prices: | $8.28 for Ford, $447 for Tesla, $29.21 for GM, 50% of initial levels
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| Equity ratios: | 60.42296 for Ford, 1.11857 for Tesla, 17.12036 for GM
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| Pricing date: | Oct. 21, 2021
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| Settlement date: | Oct. 26, 2021
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| Agent: | Barclays
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| Fees: | 3.25%
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| Cusip: | 06741WH86
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