Published on 3/8/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.63 million contingent market-linked autocalls on indexes, ETF
By William Gullotti
Buffalo, N.Y., March 8 – Barclays Bank plc priced $2.63 million of market-linked securities due Feb. 27, 2025 – autocallable with contingent coupon and contingent downside linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.25% if each underlier closes at or above its 70% coupon threshold on the observation date for that period.
The notes will be called at par plus the coupon if each underlier closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless any underlier finishes below its 70% downside threshold, in which case the investors will be fully exposed to the decline of the worst performer from its initial level.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying assets: | Russell 2000 index, Nasdaq-100 index, SPDR S&P Regional Banking ETF
|
| Amount: | $2,631,000
|
| Maturity: | Feb. 27, 2025
|
| Coupon: | 11.25% annualized, payable quarterly if each underlier closes at or above coupon threshold on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any underlier falls by more than 30%, in which case 1% loss per 1% decline of the worst performer from its initial level
|
| Call: | At par plus coupon if each underlier closes at or above its initial level on any interest payment date after six months
|
| Initial levels: | $74.28 for ETF, 14,237.81 for Nasdaq, 2,048.089 for Russell
|
| Coupon threshold: | $51.996 for ETF, 9,966.467 for Nasdaq, 1,433.6623 for Russell; 70% of initial levels
|
| Downside threshold: | $51.996 for ETF, 9,966.467 for Nasdaq, 1,433.6623 for Russell; 70% of initial levels
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 3
|
| Agents: | Wells Fargo Securities, LLC and Barclays Capital Inc.
|
| Fees: | 2.125%
|
| Cusip: | 06748XCA7
|
|
|
|
|
© 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.
