Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.56 million callable contingent coupon notes on Russell, Nasdaq, S&P
Chicago, May 18 – Barclays Bank plc priced $1.56 million of callable contingent coupon notes due July 31, 2023 linked to the worst performing of the S&P 500, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly observation date after three months.
If the notes are not redeemed early, the payout will be par any index closes below its initial level and finishes below its 70% final barrier level on any trading day, in which case investors will be fully exposed to the loss of the least performing index.
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, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,557,000
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| Maturity: | July 31, 2023
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| Coupon: | 8% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below its initial level and finishes below its final barrier level on any day, in which case investors will lose 1% for each 1% decline of the worst performer
|
| Call option: | In whole at par plus any coupon due on any monthly observation date after three months
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| Initial levels: | 4,574.79 for S&P, 15,559.49 for Nasdaq, 2,296.08 for Russell
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| Coupon barrier levels: | 3,202.35 for S&P, 10,891.64 for Nasdaq, 1,607.25 for Russell; 70% of initial levels
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| Final barrier levels: | 3,202.35 for S&P, 10,891.64 for Nasdaq, 1,607.25 for Russell; 70% of initial levels
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| Pricing date: | Oct. 26, 2021
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| Settlement date: | Oct. 29, 2021
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| Agent: | Barclays
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| Fees: | 2.175%
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| Cusip: | 06748WLW1
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