Published on 7/12/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $7.65 million contingent income callable securities on three indexes
By William Gullotti
Buffalo, N.Y., July 12 – Barclays Bank plc priced $7.65 million contingent income callable securities due Jan. 11, 2024 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of at least 8.1% if each index closes at or above its downside level, 75% of its initial index level, on every trading day during the relevant observation period.
The notes will be callable at par plus any coupon due on any quarterly payment date other than the final one.
If each index finishes at or above its downside threshold level, 75% of its initial index level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Barclays is the agent with Morgan Stanley Wealth Management as the selected dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income callable securities
|
| Underlying indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
|
| Amount: | $7,652,000
|
| Maturity: | Jan. 11, 2024
|
| Coupon: | 8.1% per year, payable quarterly if each index closes at or above the downside threshold on every trading day during the relevant observation period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par plus final contingent coupon; if final level of any index is less than downside threshold, full exposure to decline of lowest-performing index from its initial level
|
| Call option: | At par plus any coupon on any quarterly determination date
|
| Initial levels: | 2,252.847 for Russell, 4,358.13 for S&P, 4,078.53 for Stoxx
|
| Downside thresholds: | 1,689.635 for Russell, 3,268.598 for S&P, 3,058.898 for Stoxx; 75% of initial levels
|
| Pricing date: | July 7
|
| Settlement date: | July 12
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 06748W3T8
|
|
|
© 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.
