Published on 9/27/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.23 million autocallable contingent coupon notes on three indexes
By William Gullotti
Buffalo, N.Y., Sept. 27 – Barclays Bank plc priced $1.23 million of autocallable contingent coupon notes due July 11, 2024 linked 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 annual rate of 5.75% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
If the notes have not been called and each index finishes at or above its 70% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $1,225,000
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| Maturity: | July 11, 2024
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| Coupon: | 5.75% annual rate, payable quarterly if each index closes at or above coupon barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par plus final coupon; otherwise, 1% loss for every 1% decline of worst performer from initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date
|
| Initial levels: | 4,358.13 for S&P, 14,810.54 for Nasdaq, 2,252.85 for Russell
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| Coupon barrier: | 3,050.69 for S&P, 10,367.38 for Nasdaq, 1,577.0 for Russell; 70% of initial levels
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| Trigger levels: | 3,050.69 for S&P, 10,367.38 for Nasdaq, 1,577.0 for Russell; 70% of initial levels
|
| Pricing date: | July 7
|
| Settlement date: | July 12
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| Agent: | Barclays
|
| Fees: | 1.95%
|
| Cusip: | 06748W3P6
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