Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.28 million phoenix autocallable notes on three stocks
Chicago, June 7 – Barclays Bank plc priced $1.28 million of phoenix autocallable notes due Nov. 28, 2023 linked to the least performing of the stocks of Amazon.com, Inc., Tesla, Inc. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 26% if each stock closes at or above its 70% 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 its initial level on any quarterly call observation date after six months.
The payout at maturity will be par, unless any stock finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock, payable in cash or shares at Barclays’ election.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Amazon.com, Inc., Tesla, Inc. and Meta Platforms, Inc.
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| Amount: | $1,280,000
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| Maturity: | Nov. 28, 2023
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| Coupon: | 26% annualized, payable quarterly if each stock closes at or above coupon barrier on related observation date
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| Price: | Par of $10,000
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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 its initial level on any quarterly call observation date after six months
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| Initial level: | $3,572.57 for Amazon, $1,156.87 for Tesla, $341.01 for Meta
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| Coupon barriers: | $2,500.8 for Amazon, $809.81 for Tesla, $238.71 for Meta; 70% of initial levels
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| Final barriers: | $2,500.8 for Amazon, $809.81 for Tesla, $238.71 for Meta; 70% of initial levels
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| Pricing date: | Nov. 22, 2021
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| Settlement date: | Nov. 26, 2021
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741WM80
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