Published on 5/27/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 phoenix autocallable notes on three stocks
Chicago, May 27 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Nov. 12, 2024 linked to the least performing of the stocks of PayPal Holdings, Inc., Coinbase Global, Inc. and Square, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 25% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above 100% of its initial level on any monthly call observation date after three months.
The payout at maturity will be par, unless any stock finishes below 60% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying stocks: | PayPal Holdings, Inc., Coinbase Global, Inc. and Square, Inc.
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Amount: | $500,000
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Maturity: | Nov. 12, 2024
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Coupon: | 25% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock
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Call: | At par plus contingent coupon if each stock closes at or above 100% of its initial level on any monthly call observation date after three months
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Initial level: | $229.42 for PayPal, $353.92 for Coinbase, $236.77 for Square
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Coupon barriers: | $137.65 for PayPal, $212.35 for Coinbase, $142.06 for Square; 60% of initial levels
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Final barriers: | $137.65 for PayPal, $212.35 for Coinbase, $142.06 for Square; 60% of initial levels
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Pricing date: | Nov. 8, 2021
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Settlement date: | Nov. 12, 2021
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Agent: | Barclays
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Fees: | 0.25%
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Cusip: | 06748WSQ7
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