Published on 2/14/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.25 million phoenix autocallable notes on index, ETFs
Chicago, Feb. 14 – Barclays Bank plc priced $1.25 million of phoenix autocallable notes due April 25, 2024 linked to the least performing of the SPDR S&P Regional Banking ETF, the Energy Select Sector SPDR fund and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.55% if each underlier closes at or above its 65% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 65% final barrier value. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying assets: | SPDR S&P Regional Banking ETF, Energy Select Sector SPDR fund and the Euro Stoxx Banks index
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Amount: | $1,250,000
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Maturity: | April 25, 2024
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Coupon: | 9.55% annualized, payable monthly if each underlier closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon if each underlier finishes at or above its final barrier; otherwise, 1% loss for each 1% decline of the worst performer from initial level
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly call observation date after six months
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Initial levels: | $47.07 for Energy, 85.70 for index, $64.60 for Banking
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Coupon barriers: | $30.60 for Energy, 55.71 for index, $41.99 for Banking; 65% of initial levels
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Final barriers: | $30.60 for Energy, 55.71 for index, $41.99 for Banking; 65% of initial levels
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Pricing date: | April 20
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Settlement date: | April 23
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Agent: | Barclays
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Fees: | 3.45%
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Cusip: | 06748EK51
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