Published on 8/15/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $746,000 contingent coupon autocallables on indexes
By Kiku Steinfeld
Chicago, Aug. 16 – Barclays Bank plc priced $746,000 of autocallable contingent coupon notes due Jan. 31, 2023 linked to the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 7.15% per annum if each index closes at or above its 75% coupon barrier level on the determination date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly determination date after six months.
If the notes are not called, the payout at maturity will be par unless any index finishes below its initial level and any index has closed below its 75% barrier level during the life of the notes, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000, S&P 500 and Dow Jones industrial average
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| Amount: | $746,000
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| Maturity: | Jan. 31, 2023
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| Contingent coupon: | Paid monthly at 7.15% per year if each component closes at or above coupon barrier level on the determination date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and any index has closed below its barrier level during the life of the notes, in which case 1% loss for each 1% decline of worst-performing index
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| Call option: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly determination date after six months
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| Initial index levels: | 34,935.47 for Dow, 2,226.25 for Russell, 4,395.26 for S&P
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| Coupon barrier levels: | 26,201.60 for Dow, 1,669.68 for Russell, 3,296.44 for S&P; 75% of initial levels
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| Final barrier levels: | 26,201.60 for Dow, 1,669.68 for Russell, 3,296.44 for S&P; 75% of initial levels
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | Barclays
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| Fees: | 1.15%
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| Cusip: | 06748W2U6
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