Published on 12/21/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $140,000 autocallable contingent coupon notes on Nasdaq, Russell
By Kiku Steinfeld
Chicago, Dec. 21 – Barclays Bank plc priced $140,000 of autocallable contingent coupon notes due Feb. 28, 2023 linked to the least performing of 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 6.5% if each index closes at or above its coupon barrier level, 75% of its initial level, on the valuation date for that period.
The notes will be called at par plus the coupon due if each index closes at or above its initial level on any quarterly valuation date after six months.
The payout will be par unless any index finishes below its initial level and any index has closed below its 75% barrier level on any day during the life of the notes, in which case investors will be exposed to the decline of the least-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $140,000
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| Maturity: | Feb. 28, 2023
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| Contingent coupon: | 6.5% per year, payable quarterly if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below its barrier level, in which case exposure to decline of least-performing index
|
| Call: | At par plus coupon if each index closes at or above initial level on any quarterly valuation date after six months
|
| Initial levels: | 15,278.52 for Nasdaq, 2,213.98 for Russell
|
| Coupon barriers: | 11,458.89 for Nasdaq, 1,660.48 for Russell 75% of initial levels
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| Barrier levels: | 11,458.89 for Nasdaq, 1,660.48 for Russell; 75% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
|
| Agent: | Barclays
|
| Fees: | 2.65%
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| Cusip: | 06748WAX1
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