Published on 1/18/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $750,000 contingent coupon autocallables on three stocks
By Kiku Steinfeld
Chicago, Jan. 19 – Barclays Bank plc priced $750,000 of autocallable contingent coupon notes due Jan. 18, 2024 linked to the worst performing of the common stocks of Amazon.com, Inc. and Yum! Brands, Inc. and the American Depository shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 12.1% per annum if each stock closes at or above its 70% coupon barrier level on the determination date for that quarter, in which case any previously unpaid coupons will also be paid.
After one year, the notes will be automatically called at par coupon if each stock closes at or above its initial level on any quarterly autocall date.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Yum! Brands, Inc., Alibaba Group Holding Ltd. and Amazon.com, Inc.
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| Amount: | $750,000
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| Maturity: | Jan. 18, 2024
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| Contingent coupon: | Contingent quarterly coupon of 12.1% any previously unpaid coupons if each stock closes at or above coupon barrier level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier level, in which case 1% loss for each 1% decline of worst-performing stock
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| Call: | After one year, automatically at par if each stock closes at or above initial share price on any quarterly autocall date
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| Initial share prices: | $3,114.21 for Amazon, $107.67 for Yum and $227.37 for Alibaba
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| Coupon barrier levels: | $2,179.95 for Amazon, $75.37 for Yum and $159.16 for Alibaba; 70% of initial levels
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| Final barrier levels: | $1,868.53 for Amazon, $64.60 for Yum and $136.42 for Alibaba; 60% of initial levels
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
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| Agent: | Barclays
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| Fees: | 0.5%
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| Cusip: | 06741WNW6
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