Published on 8/24/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $12 million step down trigger autocallables linked to Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 24 – Barclays Bank plc priced $12 million of 0% step down trigger autocallable notes due Aug. 22, 2024 linked to the least performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 8.3% per year if each index closes at or above its call threshold level on any quarterly observation date after one year. For each index, the call threshold level will be equal to the initial index level for the each observation date except the final one, which the call threshold level will be the 75% final call level.
If the notes are not subject to an automatic call, the payout will be par unless the final level of at least one index is less than its downside threshold, 65% of its initial level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $12 million
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| Maturity: | Aug. 22, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Full exposure to decline of least-performing index from initial level
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| Call: | At par plus 8.3% per year if each index closes at or above its initial level on any quarterly observation date after one year, except the last call observation date when final call level will be 75% of initial level
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| Initial index levels: | 2,177.173 for Russell, 15,002.83 for Nasdaq
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| Final call levels: | 1,632.88 for Russell, 11,252.12 for Nasdaq; 75% of initial levels
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| Downside thresholds: | 1,415.162 for Russell, 9,751.84 for Nasdaq; 65% of initial levels
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 20
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| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
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| Fees: | 0%
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| Cusip: | 06747X789
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