Published on 7/13/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6 million phoenix autocallable notes on ETFs
By Wendy Van Sickle
Columbus, Ohio, July 13 – Barclays Bank plc priced $6 million of phoenix autocallable notes due May 31, 2024 linked to the least performing of the VanEck Vectors Gold Miners ETF and the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlier closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any underlier finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying assets: | VanEck Vectors Gold Miners ETF, iShares Silver trust
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| Amount: | $5,998,000
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| Maturity: | May 31, 2024
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| Coupon: | 8% annualized, payable quarterly if each underlier closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlier finishes below final barrier, in which case 1% loss for each 1% decline of the worst performer
|
| Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $39.52 for Gold Miners, $25.99 for silver
|
| Coupon barriers: | $27.66 for Gold Miners, $18.19 for silver; 70% of initial levels
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| Final barriers: | $27.66 for Gold Miners, $18.19 for silver; 70% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06748ESW4
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