Published on 6/17/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million phoenix autocallable notes on indexes, ETF
Chicago, June 17 – Barclays Bank plc priced $1 million of phoenix autocallable notes due Sept. 13, 2023 linked to the least performing of the SPDR S&P Regional Banking ETF, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.5% 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 monthly call observation date after three months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 70% final barrier.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying assets: | SPDR S&P Regional Banking ETF, the Nasdaq-100 index and the S&P 500 index
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Amount: | $1,000,000
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Maturity: | Sept. 13, 2023
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Coupon: | 9.5% annualized, payable monthly if each underlier closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon if each underlier finishes at or above its final barrier; otherwise, 1% loss for each 1% decline of the worst performer from initial level
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any monthly call observation date after three months
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Initial levels: | 4,701.21 for S&P, $71.14 for fund, 16,394.34 for Nasdaq
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Coupon barriers: | 3,290.85 for S&P, $49.80 for fund, 11,476.04 for Nasdaq; 70% of initial levels
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Final barriers: | 3,290.85 for S&P, $49.80 for fund, 11,476.04 for Nasdaq; 70% of initial levels
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Pricing date: | Dec. 8, 2021
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Settlement date: | Dec. 13, 2021
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Agent: | Barclays
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Fees: | 2.15%
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Cusip: | 06748WXF5
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