Published on 12/8/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $945,000 callable contingent coupon notes on S&P, Stoxx, Russell
By Kiku Steinfeld
Chicago, Dec. 8 – Barclays Bank plc priced $945,000 of callable contingent coupon notes due Aug. 2, 2024 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 9% if each index closes at or above its coupon barrier level, 75% of its initial level, on each day of that quarter.
At Barclays’ option, the notes will be callable in whole at par on any quarterly observation date.
If each index finishes at or above its barrier level, 75% of its initial level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Euro Stoxx 50 index, S&P 500, Russell 2000
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| Amount: | $945,000
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| Maturity: | Aug. 2, 2024
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| Contingent coupon: | 9% per year, payable quarterly if each index closes at or above coupon barrier level on each day of that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par on any quarterly observation date
|
| Initial levels: | 4,395.26 for S&P, 2,226.25 for Russell and 4,089.30 for Stoxx
|
| Coupon barriers: | 3,296.45 for S&P, 1,669.69 for Russell and 3,066.98 for Stoxx; 75% of initial levels
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| Barrier levels: | 3,296.45 for S&P, 1,669.69 for Russell and 3,066.98; 75% of initial levels
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 4
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06748WAL7
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