Published on 9/1/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $118,000 phoenix autocallable notes on three stocks
By Taylor Fox
New York, Sept. 1 – Barclays Bank plc priced $118,000 of phoenix autocallable notes due Feb. 28, 2024 linked to the least performing of the stocks of Eli Lilly and Co., Nvidia Corp. and Mastercard Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.25% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus the 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 plus any coupon unless any stock finishes below 60% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Eli Lilly and Co., Nvidia Corp. and Mastercard Inc.
|
| Amount: | $118,000
|
| Maturity: | Feb. 28, 2024
|
| Coupon: | 10.25% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst 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: | $202.48 for Eli Lilly, $565.68 for Nvidia and $350.42 for Mastercard
|
| Coupon barrier levels: | $121.49 for Eli Lilly, $339.41 for Nvidia and $210.25 for Mastercard; 60% of initial levels
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| Final barrier levels: | $121.49 for Eli Lilly, $339.41 for Nvidia and $210.25 for Mastercard; 60% of initial levels
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 26
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06748E4M2
|
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