Published on 6/26/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.25 million 10.2% callable fixed-coupon notes on stocks
By Kiku Steinfeld
Chicago, June 28 – Barclays Bank plc priced $1.25 million of callable fixed-coupon notes due June 19, 2024 linked to the common stocks of Home Depot, Inc., Tesla, Inc., Netflix, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 10.2% per year and payable quarterly.
The notes are callable at par on any quarterly call valuation date after six months.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its barrier level, 50% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser performing stock from its initial level.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable fixed-coupon notes
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Underlying stocks: | Home Depot, Inc., Tesla, Inc., Netflix, Inc. and Microsoft Corp.
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Amount: | $1,250,000
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Maturity: | June 19, 2024
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Coupon: | 10.2%, payable quarterly
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Price: | Par
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Call option: | At par on any quarterly call valuation date after six months
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Payout at maturity: | Par unless any stock finishes below its barrier level, in which case investors will lose 1% for each 1% decline of the lesser performing stock from its initial level
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Initial levels: | $259.89 for Microsoft, $309.32 for Home Depot, $617.69 for Tesla
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Barrier levels: | $129.94 for Microsoft, $154.66 for Home Depot, $308.84 for Tesla; 50% of initial levels
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Pricing date: | June 14
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Settlement date: | June 17
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06748EXF5
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