Published on 4/19/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $496,000 callable contingent coupon notes on S&P, Banking ETF
By Kiku Steinfeld
Chicago, April 19 – Barclays Bank plc priced $496,000 of callable contingent coupon notes due June 30, 2023 linked to the least performing of the S&P 500 index and the S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a coupon at an annualized rate of 6% if each asset closes at or above its coupon barrier value, 70% of its initial level, on the observation date for that period.
The notes are callable at par plus any coupon due on any monthly coupon observation date after three months.
If each asset finishes at or above its barrier value, 70% of its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500 index, S&P Regional Banking ETF
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| Amount: | $496,000
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| Maturity: | June 30, 2023
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| Contingent coupon: | 6% per year, payable each month if each asset closes at or above coupon barrier value on observation date for that period
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above barrier value, par plus coupon; otherwise, full exposure to losses of least-performing asset
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| Call option: | At par plus any coupon due on any coupon observation date after three months
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| Initial levels: | 4,443.11for index, $68.38 for ETF
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| Coupon barriers: | 3,110.18 for index, $47.87 for ETF; 70% of initial levels
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| Barrier values: | 3,110.18 for index, $47.87 for ETF; 70% of initial levels
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| Pricing date: | Sept. 27, 2021
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| Settlement date: | Sept. 30, 2021
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| Agent: | Barclays
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| Fees: | 2.175%
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| Cusip: | 06748WF40
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