Published on 4/15/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.69 million contingent income autocalls on indexes
By Kiku Steinfeld
Chicago, April 15 – Barclays Bank plc priced $5.69 million of autocallable contingent income securities due March 29, 2023 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.4% per year if each index closes at or above its downside threshold level, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date after six months other than the final one.
If each index finishes at or above its downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent income securities
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| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
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| Amount: | $5,685,000
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| Maturity: | March 29, 2023
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| Coupon: | 8.4% per year, payable quarterly if each index closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that least performing index declines from initial level
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date after six months other than final one
|
| Initial index levels: | 12,798.88 for Nasdaq, 2,134.266 for Russell and 3,889.14 for S&P
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| Downside threshold levels: | 8,959.216 for Nasdaq, 1,493.986 for Russell and 2,722.398 for S&P; 70% of initial levels
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.5%
|
| Cusip: | 06748EFY4
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