Published on 6/23/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.81 million contingent income autocalls on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, June 23 – Barclays Bank plc priced $5.81 million of autocallable contingent income securities due May 25, 2023 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.4% per year if each index closes at or above its downside threshold level, 80% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
If each index finishes at or above its downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent income securities
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| Underlying indexes: | least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index
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| Amount: | $5,807,000
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| Maturity: | May 25, 2023
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| Coupon: | 8.4% per year, payable quarterly if each index closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that least performing index declines from initial level
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date other than final one
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| Initial index levels: | 2,215.268 for Russell, 4,155.86 for S&P, 13,411.74 for Nasdaq
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| Downside threshold levels: | 1,772.214 for Russell. 3,324.688 for S&P, 10,729.392 for Nasdaq; 80% of initial levels
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| Pricing date: | May 21
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| Settlement date: | May 26
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
|
| Cusip: | 06748ERS4
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