Published on 6/24/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million autocallable fixed-coupon notes on Wells Fargo
By Kiku Steinfeld
Chicago, June 24 – Barclays Bank plc priced $1 million of 6.05% autocallable fixed-coupon notes due Dec. 19, 2023 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if the stock closes at or above its initial level on any quarterly call date starting in June 2022.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 65% of its initial level, in which cases investors will lose 1% for each 1% loss of the stock, payable either in shares or the cash equivalent at the issuer’s option.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable fixed-coupon notes
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Underlying stock: | Wells Fargo & Co.
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Amount: | $1 million
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Maturity: | Dec. 19, 2023
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Coupon: | 6.05%, payable monthly
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Price: | Par
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Call: | At par if stock closes at or above initial level on any quarterly call date starting in June 2022
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Payout at maturity: | Par unless stock finishes below barrier level, in which case 204.54081 shares or cash at issuer’s option
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Initial level: | $48.89
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Barrier level: | $31.78, 65% of initial level
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Pricing date: | Dec. 14, 2021
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Settlement date: | Dec. 17, 2021
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06741WP38
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