Published on 11/24/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.2 million callable contingent coupon notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Nov. 24 – Barclays Bank plc priced $1.2 million of callable contingent coupon notes due Aug. 16, 2024 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 8.25% if each index closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date.
If the notes are not redeemed early, the payout will be par unless any index closes below 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
|
| Amount: | $1.2 million
|
| Maturity: | Aug. 16, 2024
|
| Contingent coupon: | 8.25% per year, payable quarterly if each index closes at or above coupon barrier related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below its final barrier level, in which case investors will lose 1% for every 1% that the least performing index declines
|
| Call option: | In whole at par plus any coupon due on any quarterly valuation date
|
| Initial levels: | 4,468.00 for S&P, 15,136.68 for Nasdaq, 2,223.11 for Russell
|
| Coupon barrier levels: | 3,351.00 for S&P, 11,352.51 for Nasdaq, 1,667.33 for Russell; 75% of initial levels
|
| Trigger levels: | 3,127.60 for S&P, 10,595.68 for Nasdaq, 1,556.18 for Russell; 70% of initial levels
|
| Pricing date: | Aug. 13
|
| Settlement date: | Aug. 18
|
| Agent: | Barclays
|
| Fees: | 0.8%
|
| Cusip: | 06748WCA9
|
|
|
© 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.
