Published on 6/2/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 autocallable fixed-coupon notes on four stocks
Chicago, June 2 – Barclays Bank plc priced $500,000 of autocallable fixed-coupon notes due Nov. 21, 2023 linked to the common stocks of Caterpillar Inc., Vulcan Materials Co., Boeing Co. and Deere & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 9.65% per year and will be payable quarterly.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly call valuation date after nine months.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its barrier level, 65% of its initial level, in which case the payout will be par minus the decline of the least-performing stock or, at the issuer’s option, a number of shares of the least-performing stock equal to $1,000 divided by that stock’s initial share price.
Barclay is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stocks: | Caterpillar Inc., Vulcan Materials Co., Boeing Co. and Deere & Co.
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| Amount: | $500,000
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| Maturity: | Nov. 21, 2023
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| Coupon: | 9.65% annual rate, payable quarterly
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| Price: | Par
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| Call: | At par if each stock closes at or above initial level on any quarterly call valuation date after nine months
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| Payout at maturity: | Par unless any stock finishes below its barrier level, in which case par minus decline of least-performing stock or, at issuer’s option, number of shares of least-performing stock equal to $1,000 divided by that stock’s initial share price
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| Initial levels: | $207.71 for Caterpillar, $201.94 for Vulcan, $233.09 for Boeing, $361.15 for Deere
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| Barrier levels: | $135.01 for Caterpillar, $131.26 for Vulcan, $151.51 for Boeing, $234.75 for Deere; 65% of initial levels
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| Pricing date: | Nov. 16, 2021
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| Settlement date: | Nov. 19, 2021
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| Agent: | Barclays
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| Fees: | 0.65%
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| Cusip: | 06741WM64
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