Published on 7/15/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.56 million callable contingent coupon notes on Russell, Nasdaq, Gold Miners
By Wendy Van Sickle
Columbus, Ohio, July 15 – Barclays Bank plc priced $1.56 million of callable contingent coupon notes due Oct. 13, 2022 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 11.05% if each asset closes at or above its coupon barrier level, 65% 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 asset finishes below its initial level and any asset ever closes below its 65% knock-in level, in which case investors will be fully exposed to the decline of the least performing asset 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 and VanEck Vectors Gold Miners ETF
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| Amount: | $1,559,000
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| Maturity: | Oct. 13, 2022
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| Contingent coupon: | 11.05% per year, payable monthly if each asset closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its initial level and any asset ever closes below knock-in level, in which case full exposure to decline of least performing asset from its initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly call date after six months
|
| Initial levels: | $34.37 for Gold Miners, 2,280.0 for Russell, 14,826.09 for Nasdaq
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| Coupon barriers: | $22.34 for Gold Miners, 1,482.0 for Russell, 9,636.96 for Nasdaq; 65% of initial levels
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| Knock-in levels: | $22.34 for Gold Miners, 1,482.0 for Russell, 9,636.96 for Nasdaq; 65% of initial levels
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| Pricing date: | July 9
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| Settlement date: | July 14
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| Agent: | Barclays
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| Fees: | 0.55%
|
| Cusip: | 06748W3X9
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