Published on 6/2/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 11.4% autocallable fixed-coupon notes on Western Digital
Chicago, June 2 – Barclays Bank plc priced $1 million of autocallable fixed-coupon notes due Nov. 21, 2022 linked to the common stock of Western Digital Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 11.4% per year and will be payable monthly.
The notes will be automatically called at par if stock closes at or above its initial level on a quarterly call date after six months.
If the notes are not called, the payout at maturity will be par unless the stock closes below its barrier level, 70% of its initial level, in which case the payout will be 170.99863 shares with the fractional amount in stock or cash 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 indexes: | Western Digital Corp.
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Amount: | $1,000,000
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Maturity: | Nov. 21, 2022
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Coupon: | 11.4% annual rate, payable monthly
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Price: | Par of $10,000
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Call: | At par if stock closes at or above initial level on a quarterly call date after six months
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Payout at maturity: | Par unless stock closes below its barrier level, in which case 170.99863 shares, with fractional amount in cash, or cash at the issuer’s option
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Initial level: | $58.48
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Barrier level: | $40.94; 70% of initial level
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Pricing date: | Nov. 16, 2021
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Settlement date: | Nov. 19, 2021
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Agent: | Barclays
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Fees: | 1%
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Cusip: | 06741WM56
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