Published on 11/22/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 13.65% autocallable fixed-coupon notes on Enphase Energy
By William Gullotti
Buffalo, N.Y., Nov. 22 – Barclays Bank plc priced $500,000 of 13.65% autocallable fixed-coupon notes due July 28, 2022 linked to the common stock of Enphase Energy Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if the stock closes at or above its initial level on any semiannual call valuation date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 60% of its initial level, in which cases investors will receive a number of shares equal to $10,000 divided by the initial level or, at the issuer’s option, the cash equivalent.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable fixed-coupon notes
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Underlying stock: | Enphase Energy Inc.
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Amount: | $500,000
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Maturity: | July 28, 2022
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Coupon: | 13.65%, payable monthly
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Price: | Par of $10,000
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Payout at maturity: | Par unless stock finishes below barrier level, in which case investors will receive 56.12302 shares per note or, at the issuer’s option, the cash equivalent
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Call: | At par if stock closes at or above initial level on any semiannual call valuation date
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Initial level: | $178.18
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Barrier level: | $106.91, 60% of initial level
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Pricing date: | July 23
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Settlement date: | July 28
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Agent: | Barclays
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Fees: | 1%
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Cusip: | 06741W2T6
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