Published on 10/15/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.21 million step down trigger autocalls linked to Russell, S&P, Stoxx
By William Gullotti
Buffalo, N.Y., Oct. 15 – Barclays Bank plc priced $4.21 million of 0% step down trigger autocallable notes due Oct. 18, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 8.85% 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% downside threshold.
If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 75% of its initial level, and 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: | S&P 500 index, Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $4,214,200
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| Maturity: | Oct. 18, 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 8.85% per year if each index closes at or above its call threshold level on any quarterly observation date after one year
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| Initial index levels: | 4,350.65 for S&P, 2,234.271 for Russell, 4,055.09 for Stoxx
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| Downside thresholds: | 3,262.99 for S&P, 1,675.703 for Russell, 3,041.32 for Stoxx; 75% of initial levels
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| Call threshold levels: | Equal to initial index levels for each observation date except final one when it will be downside threshold level
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 15
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| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
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| Fees: | 1.5%
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| Cusip: | 06747Y308
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