Published on 1/13/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.05 million callable contingent coupon notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Barclays Bank plc priced $6.05 million of callable contingent coupon notes due Jan. 11, 2024 linked to the worst performing of the shares of Amazon.com, Inc., Humana, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon plus any previously unpaid coupons at an annualized rate of 23.2% if each stock closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly call date.
If the notes are not redeemed early, the payout at maturity will be par unless any stock finishes below its 60% final barrier level, in which case investors will be fully exposed to the decline of the least performing stock from 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 stocks: | Amazon.com, Inc., Humana, Inc. and Nvidia Corp.
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| Amount: | $6.05 million
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| Maturity: | Jan. 11, 2024
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| Contingent coupon: | 23.2% per year, payable quarterly if each stock closes at or above coupon barrier on the observation date for that period, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its final barrier level, in which case full exposure to decline of least performing stock from its initial level
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| Call option: | In whole at par plus any coupon due on any quarterly call date
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| Initial levels: | $3,251.08 for Amazon.com, $363.17 for Humana, $272.47 for Nvidia
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| Coupon barriers: | $2,275.76 for Amazon.com, $254.22 for Humana, $190.73 for Nvidia; 70% of initial levels
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| Final barrier levels: | $1,950.65 for Amazon.com, $217.90 for Humana, $163.48 for Nvidia; 60% of initial levels
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 13
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| Agent: | Barclays
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| Fees: | 0.2%
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| Cusip: | 06748X4T5
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