Published on 7/28/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 phoenix autocallable notes on three stocks
By Kiku Steinfeld
Chicago, July 28 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Jan. 22, 2024 linked to least performing of stocks of Apple Inc., Moderna, Inc. and Nvidia Corp., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.25% if each stock closes at or above its 50% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if each stock closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any stock finishes below 60% of its initial value in which case investors will be fully exposed to the loss of the least performing stock
Barclays is agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Apple Inc., Moderna, Inc. and Nvidia Corp.
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| Amount: | $500,000
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| Maturity: | Jan. 22, 2024
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| Coupon: | 12.25% annualized, payable quarterly 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 plus unless any stock finishes below final barrier, in which case full exposure to loss of least-performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly call observation date after one year
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| Initial level: | $146.39 for Apple, $286.43 for Moderna and $726.44 for Nvidia
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| Coupon barriers: | $73.19 for Apple, $143.22 for Moderna and $363.22 for Nvidia; 50% of initial levels
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| Final barriers: | $73.19 for Apple, $143.22 for Moderna and $363.22 for Nvidia; 50% of initial levels
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| Pricing date: | July 16
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| Settlement date: | July 21
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| Agent: | Barclays
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| Fees: | 2%
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| Cusip: | 06748W5J8
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