Published on 10/11/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $772,000 callable contingent coupon notes on indexes, ETF
By Kiku Steinfeld
Chicago, Oct. 12 – Barclays Bank plc priced $772,000 of callable contingent coupon notes due July 26, 2024 linked to the least performing of the Russell 2000 index, the S&P 500 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par on any monthly observation date beginning after three months.
The payout at maturity will be par unless any underlying asset closes below its 60% trigger level, in which case investors will be exposed to any losses of the worst performing asset.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying assets: | Russell 2000 index, S&P 500 index and iShares MSCI Emerging Markets ETF
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Amount: | $772,000
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Maturity: | July 26, 2024
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Coupon: | 8% annualized, payable monthly if each asset closes at or above its coupon barrier on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless any asset falls below trigger level in which case 1% loss per 1% decline of worst performing asset
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Call option: | At par on any monthly observation date beginning after three months
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Initial levels: | $52.51 for ETF, 2,209.65 for Russell and 4,411.79 for S&P
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Coupon barriers: | $36.76 for ETF, 1,546.75 for Russell and 3,088.25 for S&P; 70% of initial levels
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Trigger levels: | $31.51 for ETF, 1,325.79 for Russell and 2,647.07 for S&P; 60% of initial levels
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Pricing date: | July 23
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Settlement date: | July 28
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06748W5U3
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