Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $601,000 4% barrier fixed-coupon notes on Russell, S&P
Chicago, June 8 – Barclays Bank plc priced $601,000 of barrier fixed-coupon notes due Nov. 29, 2024 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 4%.
If each index finishes at or above 70% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Barrier fixed-coupon notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $601,000
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Maturity: | Nov. 29, 2024
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Coupon: | 4% annually, paid quarterly
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any index finishes below barrier level, in which case full exposure to losses of worst performer
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Initial levels: | 2,327.86 for Russell, 4,690.7 for S&P
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Barrier levels: | 1,629.5 for Russell, 3,283.49 for S&P; 70% of initial levels
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Pricing date: | Nov. 23, 2021
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Settlement date: | Nov. 29, 2021
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Agent: | Barclays
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Fees: | 2.87%
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Cusip: | 06748WRA3
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