Published on 3/18/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $813,000 phoenix autocallable notes on Dow, S&P, Russell
By Taylor Fox
New York, March 18 – Barclays Bank plc priced $813,000 of phoenix autocallable notes due March 11, 2022 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.6% if each index 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 index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus any coupon unless any index finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $813,000
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| Maturity: | March 11, 2022
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| Coupon: | 9.6% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any index finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date
|
| Initial level: | 2,202.98 for Russell, 3,821.35 for S&P and 31,802.44 for Dow
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| Coupon barriers: | 1,542.09 for Russell, 2,674.95 for S&P and 22,261.71 for Dow; 70% of initial levels
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| Final barriers: | 1,542.09 for Russell, 2,674.95 for S&P and 22,261.71 for Dow; 70% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 11
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| Agent: | Barclays
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| Fees: | 0.6%
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| Cusip: | 06748EEH2
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