Published on 5/6/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.04 million callable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, May 6 – Barclays Bank plc priced $2.04 million of callable contingent coupon notes due July 21, 2022 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 8.15% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related monthly observation date.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after three months.
If the notes are not redeemed early, the payout at maturity will be par unless any index finishes below 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing index falls below its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $2.04 million
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| Maturity: | July 21, 2022
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| Contingent coupon: | 8.15% per year, payable each month that each index closes at or above coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its final barrier level, in which case 1% loss for every 1% decline of least performing index
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| Call option: | In whole at par plus any coupon due on any monthly valuation date after three months
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| Initial levels: | 34,200.67 for Dow, 2,262.67 for Russell, 14,041.91 for Nasdaq
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| Coupon barriers: | 23,940.47 for Dow, 1,583.87 for Russell, 9,829.34 for Nasdaq; 70% of initial levels
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| Final barrier levels: | 23,940.47 for Dow, 1,583.87 for Russell, 9,829.34 for Nasdaq; 70% of initial levels
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| Pricing date: | April 16
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| Settlement date: | April 21
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| Agent: | Barclays
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| Fees: | 0.6%
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| Cusip: | 06748EKE2
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