Published on 11/12/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $16.87 million contingent income autocalls on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – Barclays Bank plc priced $16.87 million of contingent income autocallable securities due Nov. 2, 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.
The notes pay a contingent quarterly coupon at the rate of 8.15% per year if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date.
If each index finishes at or above its downside threshold level, 80% of the initial level, the payout at maturity will be par plus the final coupon. 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
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Issue: | Contingent income autocallable securities
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Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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Amount: | $16,866,000
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Maturity: | Nov. 2, 2023
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Coupon: | 8.15% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that period
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold level, par plus final coupon; otherwise, 1% loss for every 1% that least performing index declines from initial level
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Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly observation date
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Initial index levels: | 4,605.38 for S&P, 15,850.47 for Nasdaq, 2,297.191 for Russell
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Coupon barriers: | 3,684.304 for S&P, 12,680.376 for Nasdaq, 1,838.153 for Russell; 80% of initial levels
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Downside threshold levels: | 3,523.148 for S&P, 12,269.535 for Nasdaq, 1,827.812 for Russell; 80% of initial levels
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Pricing date: | Oct. 29
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Settlement date: | Nov. 3
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Agent: | Barclays
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 2%
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Cusip: | 06748WNX7
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