Published on 9/13/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.36 million callable contingent coupon notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 13 – Barclays Bank plc priced $2.36 million of callable contingent coupon notes due Feb. 28, 2023 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 monthly coupon at an annualized rate of 9.25% if each index closes above its 70% coupon barrier on the related observation date.
The notes will be callable at par on any monthly observation date after three months.
The payout at maturity will be par unless any index finishes below its initial level and any index has closed below its 70% knock-in level during the life of the notes, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $2,355,000
|
| Maturity: | Feb. 28, 2023
|
| Coupon: | 9.25%, payable monthly if each index closes above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below initial level and any index has closed below knock-in level during life of notes, in which case full exposure to losses of least-performing index
|
| Call option: | At par plus contingent coupon on any monthly call observation date after three months
|
| Initial levels: | 2,273.77 for Russell, 4,522.68 for S&P, 15,582.51 for Nasdaq
|
| Coupon barrier levels: | 1,591.64 for Russell, 3,165.88 for S&P, 10,907.76 for Nasdaq; 70% of initial levels
|
| Knock-in levels: | 1,591.64 for Russell, 3,165.88 for S&P, 10,907.76 for Nasdaq; 70% of initial levels
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 3
|
| Agent: | Barclays
|
| Fees: | 0.8%
|
| Cusip: | 06748WA60
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
