Published on 5/27/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $637,000 callable contingent coupon notes on S&P, Russell, Nasdaq
Chicago, May 27 – Barclays Bank plc priced $637,000 of callable contingent coupon notes due Aug. 10, 2023 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 6% if each index closes at or above its coupon barrier level, 75% 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 70% of their initial levels. 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: | $637,000
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Maturity: | Aug. 10, 2023
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Contingent coupon: | 6% 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 barrier levels; 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: | 4,697.53 for S&P, 16,359.38 for Nasdaq, 2,437.08 for Russell
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Coupon barrier levels: | 3,523.15 for S&P, 12,269.54 for Nasdaq, 1,827.81 for Russell; 75% of initial levels
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Final barrier levels: | 3,288.27 for S&P, 11,451.57 for Nasdaq, 1,705.96 for Russell; 70% of initial levels
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Pricing date: | Nov. 5, 2021
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Settlement date: | Nov. 10, 2021
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Agent: | Barclays
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Fees: | 2.175%
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Cusip: | 06748WQP1
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