Published on 8/12/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.94 million phoenix autocallable notes on Nasdaq, Russell, Dow
By William Gullotti
Buffalo, N.Y., Aug. 12 – Barclays Bank plc priced $2.94 million of phoenix autocallable notes due May 17, 2024 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless any index finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $2,937,000
|
| Maturity: | May 17, 2024
|
| Coupon: | 5% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | 13,393.12 for Nasdaq, 2,224.63 for Russell, 34,382.13 for Dow
|
| Coupon barrier levels: | 9,375.18 for Nasdaq, 1,557.24 for Russell, 24,067.49 for Dow; 70% of initial levels
|
| Final barrier levels: | 9,375.18 for Nasdaq, 1,557.24 for Russell, 24,067.49 for Dow; 70% of initial levels
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Agent: | Barclays
|
| Fees: | 3.3%
|
| Cusip: | 06748EQJ5
|
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