Published on 4/20/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.39 million callable contingent coupon notes on Dow, Russell, S&P
Kiku Steinfeld
Chicago, April 20 – Barclays Bank plc priced $1.39 million of callable contingent coupon notes due Sept. 30, 2022, linked to the worst performing of the S&P 500 index, the Dow Jones industrial average 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 10.75% 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 starting after six months.
If each index finishes at or above its final barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $1,389,000
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| Maturity: | Sept. 30, 2022
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| Contingent coupon: | 10.75% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | In whole at par plus any coupon due on any monthly valuation date after six months
|
| Initial level: | 3,972.89 for S&P, 2,220.52 for Russell, 32,981.55 for Dow
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| Barrier levels: | 2,781.02 for S&P, 1,554.36 for Russell, 23,087.08 for Dow; 70% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Barclays
|
| Fees: | 0.8%
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| Cusip: | 06748ECW1
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