Published on 12/5/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $750,000 phoenix autocallable notes on S&P, Dow, iShares Russell ETF
By Kiku Steinfeld
Chicago, Dec. 6 – Barclays Bank plc priced $750,000 of phoenix autocallable notes due May 26, 2023 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.8% if each index closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless any index finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying indexes: | S&P 500 index, iShares Russell 2000 Value ETF and Dow Jones industrial average
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Amount: | $750,000
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Maturity: | May 26, 2023
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Coupon: | 6.8% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing index
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after six months
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Initial levels: | $171.78 for ETF, 4,690.70 for S&P, 35,813.80 for Dow
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Coupon barrier levels: | $120.25 for ETF, 3,283.49 for S&P, 25,069.66 for Dow; 70% of initial levels
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Final barrier levels: | $120.25 for ETF, 3,283.49 for S&P, 25,069.66 for Dow; 70% of initial levels
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Pricing date: | Nov. 23
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Settlement date: | Nov. 29
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Agent: | Barclays
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Fees: | 0.65%
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Cusip: | 06748WU43
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