Published on 8/10/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.25 million 10.2% buffered callable fixed coupon notes on three stocks
By William Gullotti
Buffalo, N.Y., Aug. 10 – Barclays Bank plc priced $1.25 million of 10.2% callable fixed coupon notes due June 19, 2024 linked to the performance of the stocks of Microsoft Corp., Home Depot, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any contingent coupon payment date after six months.
The payout at maturity will be par plus the final coupon due unless any stock finishes below the 50% downside barrier, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable fixed coupon notes
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Underlying stocks: | Tesla, Inc., Microsoft Corp., Home Depot, Inc.
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Amount: | $1.25 million
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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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Payout at maturity: | Par plus the final coupon unless any stock falls by more than 50%, in which case exposure to losses of the worst performer from its initial level
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Call option: | At par on any interest payment date after six months
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Initial levels: | $259.89 for Microsoft, $617.69 for Tesla, $309.32 for Home Depot
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Buffer levels: | $129.94 for Microsoft, $308.84 for Tesla, $154.66 for Home Depot; 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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