Published on 7/20/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.91 million callable contingent coupon notes on Russell, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, July 20 – Barclays Bank plc priced $2.91 million of callable contingent coupon notes due May 31, 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 9% if each index closes at or above its coupon barrier level, 70% 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 call date after three months.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its 70% barrier value, in which case investors will lose 1% for every 1% that the worst performer finishes below 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: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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| Amount: | $2.91 million
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| Maturity: | May 31, 2024
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| Contingent coupon: | 9% per year, payable monthly if each index closes at or above coupon barrier on the observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its barrier value, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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| Call option: | In whole at par plus any coupon due on any monthly call date after three months
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| Initial levels: | 2,273.07 for Russell, 4,200.88 for S&P, 13,657.85 for Nasdaq
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| Coupon barriers: | 1,591.15 for Russell, 2,940.62 for S&P, 9,560.5 for Nasdaq; 70% of initial levels
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| Final barrier levels: | 1,591.15 for Russell, 2,940.62 for S&P, 9,560.5 for Nasdaq; 70% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Agent: | Barclays
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| Fees: | 0.65%
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| Cusip: | 06748ET45
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