Published on 6/14/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.12 million callable contingent coupon notes on indexes, ETF
Chicago, June 14 – Barclays Bank plc priced $1.12 million of callable contingent coupon notes due Sept. 8, 2023 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 15.4% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly call date.
If the notes are not redeemed early and each underlier finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If all assets finish above their initial levels or if an asset has fallen below its initial level but no asset ever closed below 60% of its initial level during the life of the notes, investors will receive par.
Otherwise, investors will be exposed to the losses of the worst performer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF
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| Amount: | $1,120,000
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| Maturity: | Sept. 8, 2023
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| Contingent coupon: | 15.4% per year, payable quarterly if each underlier closes at or above coupon barrier on the observation date for that period
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| Price: | Par
|
| Payout at maturity: | Par if all assets close above initial levels or if at least one asset finishes below its initial level but no asset ever closes below 60% of its initial level during the life of the notes; otherwise, full exposure to losses of worst performer
|
| Call option: | In whole at par plus any coupon due on any quarterly call date
|
| Initial levels: | $30.69 for fund, 15,712.04 for Nasdaq, 2,159.31 for Russell
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| Coupon barriers: | $21.48 for fund, 10,998.43 for Nasdaq, 1,511.52 for Russell; 70% of initial levels
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| Final barrier levels: | $18.41 for fund, 9,427.22 for Nasdaq, 1,295.59 for Russell; 60% of initial levels
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| Pricing date: | Dec. 3, 2021
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| Settlement date: | Dec. 8, 2021
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| Agent: | Barclays
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| Fees: | 0.875%
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| Cusip: | 06748WVQ3
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