Published on 5/26/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.28 million callable contingent coupon notes on S&P, Russell, Nasdaq
Chicago, May 26 – Barclays Bank plc priced $1.28 million of callable contingent coupon notes due July 31, 2023 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 189B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 10.25% if each index 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 valuation date after three months.
If the notes are not redeemed early, the payout will be par if all three indexes close above their initial levels. Alternatively, investors will receive par if no index closes below its 70% barrier level during the life of the notes. Otherwise, investors will lose 1% for every 1% that the least performing index declines.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $1,276,000
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| Maturity: | July 31, 2023
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| Contingent coupon: | 10.25% per year, payable monthly if each index closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par if all indexes close above initial levels; par if no index closes below barrier level during the life of the notes, otherwise, investors will lose 1% for every 1% that the least-performing index declines from its initial level
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| Call option: | In whole at par plus any coupon due on any monthly valuation date after three months
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| Initial levels: | 4,605.38 for S&P, 15,850.47 for Nasdaq, 2,297.19 for Russell
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| Coupon barrier levels: | 3,223.77 for S&P, 11,095.33 for Nasdaq, 1,608.03 for Russell; 70%of initial levels
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| Final barrier levels: | 3,223.77 for S&P, 11,095.33 for Nasdaq, 1,608.03 for Russell; 70%of initial levels
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| Pricing date: | Oct. 29, 2021
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| Settlement date: | Nov. 3, 2021
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| Agent: | Barclays
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| Fees: | 0.8%
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| Cusip: | 06748WLX9
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