Published on 6/21/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $95,000 phoenix autocallable notes on three stocks
By William Gullotti
Buffalo, N.Y., June 21 – Barclays Bank plc priced $95,000 of phoenix autocallable notes due June 20, 2024 linked to least performing of stocks of Las Vegas Sands Corp., Charles Schwab Corp. and Capital One Financial Corp., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.5% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if each stock closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless any stock finishes below 60% of its initial value in which case investors will be fully exposed to the loss of the least performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Las Vegas Sands Corp., Charles Schwab Corp., Capital One Financial Corp.
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| Amount: | $95,000
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| Maturity: | June 20, 2024
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| Coupon: | 10.5% annualized, payable monthly if each stock 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 unless any stock finishes below final barrier, in which case full exposure to loss of least-performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly call observation date after six months
|
| Initial level: | $54.29 for Vegas Sands, $72.54 for Schwab, $162.11 for Capital One
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| Coupon barriers: | $32.57 for Vegas Sands, $43.52 for Schwab, $97.27 for Capital One; 60% of initial levels
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| Final barriers: | $32.57 for Vegas Sands, $43.52 for Schwab, $97.27 for Capital One; 60% of initial levels
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| Pricing date: | June 15
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| Settlement date: | June 18
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| Agent: | Barclays
|
| Fees: | 3.5%
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| Cusip: | 06748EVM2
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