Published on 6/3/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $33.38 million phoenix autocallable notes on Russell, Nasdaq, ETF
By Wendy Van Sickle
Columbus, Ohio, June 3 – Barclays Bank plc priced $33.38 million of phoenix autocallable notes due June 2, 2023 linked to the least performing of the SPDR S&P Regional Banking ETF, the Nasdaq-100 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 11.1% if each asset closes at or above its 75% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any asset finishes below 75% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing asset.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying assets: | Nasdaq-100 index, Russell 2000 index, SPDR S&P Regional Banking ETF
|
Amount: | $33,377,000
|
Maturity: | June 2, 2023
|
Coupon: | 11.1% annualized, payable quarterly if each asset closes at or above coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | Par unless any asset finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing asset
|
Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly call observation date
|
Initial levels: | 13,657.85 for Nasdaq, 2,273.07 for Russell, $70.72 for ETF
|
Coupon barriers: | 10,243.39 for Nasdaq, 1,704.8 for Russell, $53.04 for ETF; 75% of initial levels
|
Final barriers: | 10,243.39 for Nasdaq, 1,704.8 for Russell, $53.04 for ETF; 75% of initial levels
|
Pricing date: | May 27
|
Settlement date: | June 3
|
Agent: | Barclays
|
Fees: | 1.75%
|
Cusip: | 06748ES87
|
|
© 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.