Published on 1/2/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.22 million phoenix autocallable notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Jan. 2 – Barclays Bank plc priced $5.22 million of phoenix autocallable notes due Sept. 26, 2024 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.1% if each index closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above 70% of its initial value, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $5,215,000
|
| Maturity: | Sept. 26, 2024
|
| Coupon: | 6.1% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above coupon barrier; if worst performing index finishes below its coupon barrier but not below its final barrier, par; otherwise, 1% loss for each 1% decline of the worst performer from its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | 4,696.56 for S&P, 16,180.14 for Nasdaq, 2,221.90 for Russell
|
| Coupon barriers: | 3,287.59 for S&P, 11,326.10 for Nasdaq, 1,555.33 for Russell; 70% of initial levels
|
| Final barriers: | 3,287.59 for S&P, 11,326.10 for Nasdaq, 1,555.33 for Russell; 70% of initial levels
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 28
|
| Agent: | Barclays
|
| Fees: | 2.55%
|
| Cusip: | 06748WVK6
|
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