Published on 2/16/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.35 million phoenix autocallable notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Barclays Bank plc priced $1.35 million of phoenix autocallable notes due Feb. 2, 2023 linked to the least performing of the stocks of Zoom Video Communications, Inc., United Parcel Service, Inc. and Taiwan Semiconductor Manufacturing Co Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 35% if each stock closes at or above its 70% 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 70% 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: | Zoom Video Communications, Inc., United Parcel Service, Inc. and Taiwan Semiconductor Manufacturing Co Ltd.
|
Amount: | $1.35 million
|
Maturity: | Feb. 2, 2023
|
Coupon: | 35% 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: | $155.00 for UPS, $327.07 for Zoom and $121.52 for Taiwan Semiconductor
|
Coupon barriers: | $108.50 for UPS, $260.45 for Zoom and $85.06 for Taiwan Semiconductor; 70% of initial levels
|
Final barriers: | $108.50 for UPS, $260.45 for Zoom and $85.06 for Taiwan Semiconductor; 70% of initial levels
|
Pricing date: | Jan. 29
|
Settlement date: | Feb. 3
|
Agent: | Barclays
|
Fees: | 1.75%
|
Cusip: | 06741WPY0
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.