Published on 3/15/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 callable contingent coupon notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, March 15 – Barclays Bank plc priced $500,000 of callable contingent coupon notes due Sept. 20, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 9% if each underlying asset closes at or above its coupon barrier level, 70% of the initial value, on the related monthly observation date.
The notes will be callable in whole at par on any contingent coupon payment date after three months.
If each asset finishes at or above its 70% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | Sept. 20, 2024
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| Contingent coupon: | 9% per year, payable each month that each underlying asset closes at or above coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above barrier value, par; otherwise, full exposure to decline of least-performing asset
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| Call option: | At par on any contingent coupon payment date after three months
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| Initial values: | 34,584.88 for Dow, 2,236.87 for Russell, 4,432.99 for S&P
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| Coupon barrier levels: | 24,209.42 for Dow, 1,565.81 for Russell, 3,103.09 for S&P, 70% of initial levels
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| Barrier values: | 24,209.42 for Dow, 1,565.81 for Russell, 3,103.09, 70% of initial levels
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
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| Agent: | Barclays
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| Fees: | 0.2%
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| Cusip: | 06748WHU0
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