Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.16 million phoenix autocallable notes on car stocks
Chicago, June 8 – Barclays Bank plc priced $1.16 million of phoenix autocallable notes due Nov. 29, 2024 linked to the least performing of the stocks of Ford Motor Co., General Motors Co. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 30.9% if each stock closes at or above its 70% 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 its initial level on any monthly call observation date after three months.
The payout at maturity will be par, unless any stock finishes below 50% 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: | Ford Motor Co., General Motors Co. and Tesla, Inc.
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Amount: | $1,163,000
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Maturity: | Nov. 29, 2024
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Coupon: | 30.9% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
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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
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Call: | At par plus contingent coupon if each stock closes at or above its initial level on any monthly call observation date after three months
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Initial levels: | $20.25 for Ford, $62.19 for GM, $1,116 for Tesla
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Coupon barriers: | $14.18 for Ford, $43.53 for GM, $781.20 for Tesla; 70% of initial levels
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Final barriers: | $10.13 for Ford, $31.10 for GM, $558 for Tesla; 50% of initial levels
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Pricing date: | Nov. 24, 2021
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Settlement date: | Nov. 30, 2021
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06748WTX1
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