Published on 7/2/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.52 million callable contingent coupon notes on indexes, ETF
By Kiku Steinfeld
Chicago, July 12 – Barclays Bank plc priced $1.52 million of callable contingent coupon notes due Jan. 3, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 8% if each underlying asset closes at or above its coupon barrier level, 70% of its initial price, on the related monthly observation date.
The notes will be callable in whole at par on any observation date after three months.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | S&P 500 index, Russell 2000 index, VanEck Vectors Gold Miners ETF
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| Amount: | $1.52 million
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| Maturity: | Jan. 3, 2023
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| Contingent coupon: | 8% per month, payable monthly if each underlying asset closes at or above coupon barrier level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
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| Call option: | Callable at par on any observation date after three months
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| Initial values: | 4,290.61 for S&P, 2,322.34 for Russell and $33.98 for ETF
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| Coupon barriers: | 3,003.43 for S&P, 1,625.64 for Russell and $23.79 for ETF, 70% of initial levels
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| Barriers: | 2,574.37 for S&P, 1,393.40 for Russell and $20.39 ETF, 60% of initial levels
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| Pricing date: | June 28
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| Settlement date: | July 1
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| Agent: | Barclays
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| Fees: | 2.275%
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| Cusip: | 06748EZ22
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