Published on 6/18/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.05 million callable contingent coupon equity notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, June 18 – Barclays Bank plc priced $5.05 million of callable contingent coupon notes due June 14, 2024 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 8.5% 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 valuation date after three months.
If the notes are not redeemed early, the payout will be par unless any index finishes below 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing index declines.
Barclays is the underwriter.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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Amount: | $5,053,000
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Maturity: | June 14, 2024
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Contingent coupon: | 8.5% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its final barrier level, in which case investors will lose 1% for every 1% that the least performing index declines
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Call option: | In whole at par any monthly valuation date after three months
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Initial levels: | 4,247.44 for S&P, 2,335.808 for Russell, 13,998.3 for Nasdaq
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Coupon barrier levels: | 2,973.21 for S&P, 1,635.07 for Russell, 9,798.81 for Nasdaq; 70% of initial levels
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Final barrier levels: | 2,973.21 for S&P, 1,635.07 for Russell, 9,798.81 for Nasdaq; 70% of initial levels
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Pricing date: | June 11
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Settlement date: | June 16
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Underwriter: | Barclays
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Fees: | 0.6%
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Cusip: | 06748EX32
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