Published on 7/1/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $797,000 callable contingent coupon notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., July 1 – Barclays Bank plc priced $797,000 of callable contingent coupon notes due June 26, 2023 linked to the worst performing of the Nasdaq-100 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 8.3% 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.
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, Nasdaq-100 index, Energy Select Sector SPDR Fund
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Amount: | $797,000
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Maturity: | June 26, 2023
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Contingent coupon: | 8.3% 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
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Initial levels: | $54.07 for ETF, 2,286.09 for Russell, 14,137.23 for Nasdaq
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Coupon barriers: | $37.85 for ETF, 1,600.26 for Russell, 9,896.06 for Nasdaq; 70% of initial levels
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Final barrier levels: | $37.85 for ETF, 1,600.26 for Russell, 9,896.06 for Nasdaq; 70% of initial levels
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Pricing date: | June 21
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Settlement date: | June 24
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06748EXY4
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