Published on 5/26/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.24 million phoenix autocallable notes on Russell
By Wendy Van Sickle
Columbus, Ohio, May 26 – Barclays Bank plc priced $1.24 million of phoenix autocallable notes due May 5, 2022 linked to the common index of Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.65% if the index closes at or above its 80% coupon barrier on the related observation date.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any monthly call observation date.
The payout at maturity will be par unless the index finishes below 80% of its initial value, in which case investors will be fully exposed the decline of the index from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying index: | Russell 2000 index
|
Amount: | $1,236,000
|
Maturity: | May 5, 2022
|
Coupon: | 7.65% annualized, payable monthly if index closes at or above coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | Par unless index finishes below its final barrier level, in which case full exposure to index’s decline
|
Call: | At par plus contingent coupon if index closes at or above initial level on any monthly call observation date
|
Initial level: | 2,266.449
|
Coupon barrier level: | 1,813.16, 80% of initial level
|
Final barrier level: | 1,813.16, 80% of initial level
|
Pricing date: | April 30
|
Settlement date: | May 5
|
Agent: | Barclays
|
Fees: | 1.25%
|
Cusip: | 06748ELW1
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.