Published on 9/1/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.4 million callable contingent coupon notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 1 – Barclays Bank plc priced $2.4 million of callable contingent coupon notes due July 5, 2024 tied to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 6.55% if each index closes above its 70% coupon barrier on the related observation date.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par if all the indexes finish above the 60% trigger buffer level.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $2,397,000
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Maturity: | July 5, 2024
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Coupon: | 6.55%, payable quarterly if each index closes above its coupon barrier on the related observation date
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Price: | Par
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Payout at maturity: | Par if all indexes finish above the trigger buffer level; otherwise, full exposure to the losses of the worst performing index
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Call option: | At par plus contingent coupon on any quarterly call observation date
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Initial levels: | 4,297.50 for S&P, 14,554.80 for Nasdaq, 2,310.55 for Russell
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Coupon trigger levels: | 3,008.25 for S&P, 10,188.36 for Nasdaq, 1,617.38 for Russell; 70% of initial levels
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Trigger buffer levels: | 2,578.50 for S&P, 8,732.88 for Nasdaq, 1,386.33 for Russell; 60% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Barclays
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Fees: | 0.8%
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Cusip: | 06748EUV3
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