Chicago, May 13 – Barclays Bank plc priced $625,000 of callable contingent coupon notes due Oct. 10, 2024 linked to the common stock of Carnival Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 14.25% if the stock closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly call valuation date after one year.
If the notes are not redeemed early, the payout will be par plus the final coupon if the stock finishes at or above its 60% final barrier.
Otherwise, investors will lose 1% for every 1% decline from the stock’s initial level, payable in shares or cash at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying stock: | Carnival Corp.
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| Amount: | $625,000
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| Maturity: | Oct. 10, 2024
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| Contingent coupon: | 14.25% per year, payable quarterly if the stock closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if stock finishes at or above final barrier; otherwise, lose 1% for every 1% decline from initial level, payable in shares or cash at the issuer’s option
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| Call option: | In whole at par plus any coupon due on any quarterly call valuation date after one year
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| Initial level: | $24.49
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| Coupon barrier level: | $14.69; 60 % of initial level
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| Final barrier level: | $14.69; 60 % of initial level
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| Pricing date: | Oct. 7, 2021
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| Settlement date: | Oct. 13, 2021
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| Agent: | Barclays
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| Fees: | 0%
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| Cusip: | 06741WH52
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