Published on 3/16/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.86 million phoenix autocallable notes on Walgreens Boots
By Taylor Fox
New York, March 16 – Barclays Bank plc priced $5.86 million of phoenix autocallable notes due March 8, 2023 linked to the common stock of Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.45% if the stock closes at or above its 65% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless the stock finishes below 65% of its initial value in which case investors will be fully exposed to the decline, payable either in shares or cash at the issuer’s option.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying stock: | Walgreens Boots Alliance, Inc.
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Amount: | $5,862,000
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Maturity: | March 8, 2023
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Coupon: | 10.45% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
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Price: | Par
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Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly call observation date
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Payout at maturity: | Par unless stock finishes below final barrier, in which case full exposure to decline, payable in either shares or cash at issuer’s option
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Initial level: | $47.63
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Coupon barrier level: | $30.96, 65% of initial level
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Final barrier level: | $30.96, 65% of initial level
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Pricing date: | March 3
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Settlement date: | March 8
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06741WRP7
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