Published on 2/6/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.24 million callable contingent coupon notes on Russell, Nasdaq, S&P
By Taylor Fox
New York, Feb. 8 – Barclays Bank plc priced $1.24 million of callable contingent coupon notes due Oct. 11, 2022 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 7.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date beginning April 5.
If the notes are not redeemed, the payout will be par plus any final coupon unless any index finishes below 75% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $1,242,000
|
| Maturity: | Oct. 11, 2022
|
| Contingent coupon: | 7.5% per year, payable monthly if each asset closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below barrier level, in which case investors will be fully exposed to the loss of the least performing index
|
| Call option: | In whole at par plus any coupon due on any monthly valuation date beginning April 5
|
| Initial levels: | 1,979.11 for Russell, 12,802.38 for Nasdaq and 3,726.86 for S&P
|
| Coupon barrier levels: | 1,385.38 for Russell, 8,961.67 for Nasdaq and 2,608.80 for S&P; 70% of initial levels
|
| Final barrier levels: | 1,484.33 for Russell, 9,601.79 for Nasdaq and 2,795.15 for S&P; 75% of initial levels
|
| Pricing date: | Jan. 5
|
| Settlement date: | Jan. 8
|
| Agent: | Barclays
|
| Fees: | 2.1%
|
| Cusip: | 06747QTR8
|
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