Published on 2/28/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $503,000 callable contingent coupon notes on indexes, ETF
Chicago, Feb. 28 – Barclays Bank plc priced $503,000 of callable contingent coupon notes due Jan. 31, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 7.05% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly call date after three months.
If the notes are not redeemed early and each underlier finishes at or above its 70% barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying assets: | Nasdaq-100 index, the Russell 2000 index and the iShares MSCI Emerging Markets ETF
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Amount: | $503,000
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Maturity: | Jan. 31, 2023
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Contingent coupon: | 7.05% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
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Price: | Par
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Payout at maturity: | If the final level of each underlier is greater than or equal to its barrier, par plus final coupon; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
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Call option: | In whole at par plus any coupon due on any monthly call date after three months
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Initial levels: | 13,960.28 for Nasdaq, 2,301.27 for Russell, $54.67 for ETF
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Coupon barriers: | 9,772.20 for Nasdaq, 1,610.89 for Russell, $38.27 for ETF; 70% of initial levels
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Final barrier levels: | 9,772.20 for Nasdaq, 1,610.89 for Russell, $38.27 for ETF; 70% of initial levels
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Pricing date: | April 27, 2021
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Settlement date: | April 30, 2021
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Agent: | Barclays
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Fees: | 2.175%
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Cusip: | 06748ELA9
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