Published on 10/12/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.53 million callable contingent coupon notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Oct. 12 – Barclays Bank plc priced $4.53 million of callable contingent coupon notes due Oct. 10, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 12% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the corresponding observation day.
The notes will be callable in whole at par plus any coupon due on any quarterly call date after one year.
If the notes are not redeemed early, the payout at maturity will be par plus the final coupon unless any underlier finishes below its 70% final barrier level, in which case investors will be fully exposed to the decline of the least performing underlier from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Russell 2000 index, Nasdaq-100 index, SPDR S&P Regional Banking ETF
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| Amount: | $4,534,000
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| Maturity: | Oct. 10, 2024
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| Contingent coupon: | 12% per year, payable monthly if each underlier closes at or above coupon barrier on the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any underlier finishes below its final barrier level, in which case full exposure to decline of least performing underlier
|
| Call option: | In whole at par plus any coupon due on any quarterly call date after one year
|
| Initial levels: | $69.77 for ETF, 2,214.96 for Russell, 14,766.75 for Nasdaq
|
| Coupon barriers: | $48.84 for ETF, 1,550.47 for Russell, 10,336.73 for Nasdaq; 70% of initial levels
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| Final barrier levels: | $48.84 for ETF, 1,550.47 for Russell, 10,336.73 for Nasdaq; 70% of initial levels
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
|
| Agent: | Barclays
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| Fees: | 0.5%
|
| Cusip: | 06748WMP5
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