Published on 4/2/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.56 million autocallable contingent coupon notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, April 5 – Barclays Bank plc priced $1.56 million of autocallable contingent coupon notes due March 16, 2023 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 8.25% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date, in which case any previously unpaid coupons will also be paid.
The notes will be called at par if each index at or above its initial level on any quarterly call observation date after six months.
If the notes are not redeemed early, the payout will be par unless any index finishes below 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $1,564,000
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| Maturity: | March 16, 2023
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| Contingent coupon: | 8.25% per year, payable monthly plus any previously unpaid coupons if each index closes at or above coupon barrier related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its final barrier level, in which case investors will lose 1% for every 1% that the least performing index declines
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| Call: | Par if each index at or above its initial level on any quarterly call observation date after six months
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| Initial levels: | 3,943.34 for S&P, 2,352.79 for Russell, 12,937.29 for Nasdaq
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| Coupon barriers: | 2,760.34 for S&P, 1,646.95 for Russell, 9,056.10 for Nasdaq; 70% of initial levels
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| Final barriers: | 2,760.34 for S&P, 1,646.95 for Russell, 9,056.10 for Nasdaq; 70% of initial levels
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| Pricing date: | March 12
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| Settlement date: | March 17
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06748EEX7
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