Published on 3/17/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $322,000 callable contingent coupon notes on ETF, indexes
By Taylor Fox
New York, March 17 – Barclays Bank plc priced $322,000 of callable contingent coupon notes due March 8, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 17.5% if each asset 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 quarterly call valuation date.
If the notes are not redeemed, the payout will be par plus the final coupon unless any asset finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index and the VanEck Vectors Gold Miners ETF
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| Amount: | $322,000
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| Maturity: | March 8, 2024
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| Contingent coupon: | 17.5% per year, payable quarterly if each asset closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless any asset finishes below its final barrier level, in which case investors will lose 1% for each 1% decline of the worst performer
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date
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| Initial levels: | $31.78 for VanEck, 12,668.51 for Nasdaq and 2,192.21 for Russell
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| Coupon barrier levels: | $22.25 for VanEck, 8,867.96 for Nasdaq and 1,534.55 for Russell, 70% of initial levels
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| Final barrier levels: | $19.07 for VanEck, 7,601.11 for Nasdaq and 1,315.33 for Russell, 60% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 10
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| Agent: | Barclays
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| Fees: | 1%
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| Cusip: | 06748EC27
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