Published on 7/5/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $327,000 callable contingent coupon notes on S&P, Russell
By Kiku Steinfeld
Chicago, July 5 – Barclays Bank plc priced $327,000 of callable contingent coupon notes due Dec. 27, 2024 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at annual rate of 6.25% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be callable semiannually at par plus any coupon due on any call valuation date after one year.
The payout at maturity will be par plus any final coupon due unless either index finishes below the 70% downside barrier, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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 and Russell 2000 index
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| Amount: | $327,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 6.25%, payable semiannually if each index closes at or above coupon barrier on observation date
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| Price: | Par
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| Call option: | At par plus any coupon due on any semiannual call valuation date after one year
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| Payout at maturity: | Par plus any coupon if both indexes close above barrier level; otherwise, 1% for each 1% decline of worse performing index from its initial level
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| Initial levels: | 2221.903 for Russell, 4696.56 for S&P
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| Coupon barriers: | 1555.33 for Russell, 3287.59 for S&P, 70% of initial levels
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| Barrier levels: | 1555.33 for Russell, 3287.59 for S&P, 70% of initial levels
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| Pricing date: | Dec. 22, 2021
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| Settlement date: | Dec. 28, 2021
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| Agent: | Barclays
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| Fees: | 0.65%
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| Cusip: | 06748WX65
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