Published on 6/11/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $795,000 callable contingent coupon notes on Russell, Nasdaq, S&P
By Kiku Steinfeld
Chicago, June 11 – Barclays Bank plc priced $795,000 of callable contingent coupon notes due May 23, 2024 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index 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% if each index closes at or above its coupon barrier level, 70% of its initial level, on a related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly observation date after three months.
If the notes are not redeemed, the payout will be par plus any final coupon unless any index finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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Amount: | $795,000
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Maturity: | May 23, 2024
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Contingent coupon: | 10% per year, payable monthly if each index closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par plus any coupon unless any index finishes below final barrier level, in which case investors will be fully exposed to the loss of the least performing index
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Call option: | In whole at par plus any coupon due on any monthly observation date after three months
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Initial levels: | 4,127.83 for S&P, 13,217.68 for Nasdaq, 2,210.877 for Russell
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Coupon barrier levels: | 2,889.48 for S&P, 9,252.38 for Nasdaq, 1,547.61 for Russell; 70% of initial levels
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Trigger levels: | 2,683.09 for S&P, 8,591.49 for Nasdaq, 1,437.07 for Russell; 65% of initial levels
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Pricing date: | May 18
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Settlement date: | May 21
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Agent: | Barclays
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Fees: | 0.25%
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Cusip: | 06748EQ22
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