Published on 6/21/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.05 million callable contingent coupon notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, June 21 – Barclays Bank plc priced $1.05 million of callable contingent coupon notes due June 15, 2023 linked to the worst performing of the MSCI EAFE index, the Russell 2000 index and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 7.2% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly call date after six months.
If the notes are not redeemed early, the payout at maturity will be par unless any underlier finishes below its 70% final barrier level, in which case investors will be fully exposed to the decline of the least performing underlier from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Russell 2000 index, MSCI EAFE index, Energy Select Sector SPDR fund
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| Amount: | $1.05 million
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| Maturity: | June 15, 2023
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| Contingent coupon: | 7.2% per year, payable quarterly if each underlier closes at or above coupon barrier on the observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any underlier finishes below its final barrier level, in which case full exposure to decline of least performing underlier
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| Call option: | In whole at par plus any coupon due on any quarterly call date after six months
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| Initial levels: | $55.38 for ETF, 2,335.81 for Russell, 2,365.55 for EAFE
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| Coupon barriers: | $38.77 for ETF, 1,635.07 for Russell, 1,655.89 for EAFE; 70% of initial levels
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| Final barrier levels: | $38.77 for ETF, 1,635.07 for Russell, 1,655.89 for EAFE; 70% of initial levels
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| Pricing date: | June 11
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| Settlement date: | June 16
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| Agent: | Barclays
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| Fees: | 1.5%
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| Cusip: | 06748EX99
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