Published on 11/2/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.43 million buffered autocallable contingent coupon notes on index, ETF
By Kiku Steinfeld
Chicago, Nov. 2 – Barclays Bank plc priced $4.43 million of buffered autocallable contingent coupon notes due July 31, 2023 linked to the least performing of the VanEck Vectors Gold Miners ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at a 5% annualized rate if each underlier closes at or above its 80% coupon barrier value on the related observation date.
The notes will be callable at par plus coupon if the each underlier closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par if each underlier finishes at or above 80% of initial level, otherwise investors will lose 1% for each 1% decline of that asset beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable contingent coupon notes
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Underlying assets: | VanEck Vectors Gold Miners ETF, Russell 2000 index
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Amount: | $4,432,000
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Maturity: | July 31, 2023
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Contingent coupon: | 5% annual rate, payable quarterly if each underlier closes at or above coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par unless an underlier finishes below its buffer level, in which case 1% loss for each 1% decline of the worst performer beyond the buffer
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Call: | At par plus coupon if each underlier closes at or above initial level on any quarterly observation date after six months
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Initial levels: | $33.68 for ETF, 2,191.83 for Russell
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Coupon barrier levels: | $26.94 for ETF, 1,753.47 for Russell; 80% of initial levels
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Buffer levels: | $26.94 for ETF, 1,753.47 for Russell; 80% of initial levels
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Pricing date: | July 27
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Settlement date: | July 30
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Agent: | Barclays
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Fees: | 2.5%
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Cusip: | 06748W5V1
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