Published on 4/9/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $983,000 phoenix autocallable notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, April 9 – Barclays Bank plc priced $983,000 of phoenix autocallable notes due March 29, 2024 linked to least performing of stocks of General Motors Co., Eli Lilly and Co. and Target Corp., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11% if each stock closes at or above its 55% 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 six months.
The payout at maturity will be par unless any stock finishes below 55% 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: | General Motors Co., Eli Lilly and Co. and Target Corp.
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| Amount: | $983,000
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| Maturity: | March 29, 2024
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| Coupon: | 11% 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 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 six months
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| Initial level: | $56.52 for General Motors, $185.31 for Eli Lilly and $200.95 for Target
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| Coupon barriers: | $31.09 for General Motors, $102.92 for Eli Lilly and $110.52 for Target; 55% of initial levels
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| Final barriers: | $31.09 for General Motors, $102.92 for Eli Lilly and $110.52 for Target; 55% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Agent: | Barclays
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| Fees: | 3.5%
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| Cusip: | 06748EDJ9
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