Published on 3/31/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.63 million fixed coupon autocallable securities on VanEck Vectors
By Taylor Fox
New York, March 31 – Barclays Bank plc priced $2.63 million of 9.5% fixed coupon autocallable securities due March 24, 2022 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the ETF closes at or above its initial share price on Sept. 19, 2021 or Dec. 19, 2021.
If the ETF finishes at or above the 75% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the ETF declines below its initial share price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed coupon autocallable securities
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $2,629,000
|
| Maturity: | March 24, 2022
|
| Coupon: | 9.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the ETF’s final share price is less than the downside threshold, in which case 1% loss for every 1% that the ETF declines below its initial share price
|
| Call: | Automatically at par if the ETF closes at or above its initial share price on Sept. 19, 2021 or Dec. 19, 2021
|
| Initial share price: | $33.89
|
| Downside threshold: | $25.42; 75% of initial level
|
| Pricing date: | March 19
|
| Settlement date: | March 24
|
| Underwriter: | Barclays
|
| Fees: | 1%
|
| Cusip: | 06748EDR1
|
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