Published on 3/18/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.36 million callable contingent coupon notes on Russell, Dow, S&P
By Taylor Fox
New York, March 18 – Barclays Bank plc priced $2.36 million of callable contingent coupon notes due Sept. 11, 2023 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 13.2% if each asset closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date.
If the notes are not redeemed, the payout at maturity will be par plus any final coupon unless any index finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
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| Underlying assets: | Russell 2000 index, Dow Jones industrial average and S&P 500 index
|
| Amount: | $2,355,000
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| Maturity: | Sept. 11, 2023
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| Contingent coupon: | 13.2% per year, payable each month that each asset closes at or above coupon barrier on the observation date for that period
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| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below final barrier, in which case full exposure to any decline in least performing index
|
| Call option: | In whole at par plus any coupon due on any monthly call date
|
| Initial levels: | 2,192.21 for Russell, 31,496.3 for Dow, 3,841.94 for S&P
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| Coupon barriers: | 1,644.16 for Russell, 23,622.23 for Dow, 2,881.46 for S&P; 75% of initial levels
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| Final barriers: | 1,424.94 for Russell, 20,472.6 for Dow, 2,497.26 for S&P; 65% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 11
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| Agent: | Barclays
|
| Fees: | 0.5%
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| Cusip: | 06748EEK5
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