Published on 2/9/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.23 million step-up autocallables on Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Feb. 9 – Barclays Bank plc priced $6.23 million of 0% autocallable market-linked step-up notes due Jan. 25, 2024 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10.85% if the index closes at or above its initial level on either annual observation date.
If the index finishes above the step-up level – 130% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index finishes flat or increases by up to 30%, the payout will be par plus the step-up payment of 30%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable market-linked step-up notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $6,234,470
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Maturity: | Jan. 25, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the final index level is greater than or equal to the initial index level but less than or equal to the step-up level, par plus 30%; full exposure to any index decline
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Call: | Automatically at par plus an annual call premium of 10.85% if the index closes at or above its initial level on Feb. 10, 2022 or Jan. 19, 2023
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Initial level: | 3,557.04
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Step-up level: | 4,624.15, 130% of initial level
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Pricing date: | Jan. 28
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Settlement date: | Feb. 4
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 06747L397
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