Published on 1/4/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.5 million callable contingent coupon notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Barclays Bank plc priced $1.5 million of callable contingent coupon notes due Jan. 2, 2025 linked to the worst performing of the shares of Amazon.com, Inc., Cisco Systems, Inc., Walmart Inc. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 16% 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 monthly call date after three months.
If the notes are not redeemed early, the payout at maturity will be par unless any stock finishes below its 70% 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., Cisco Systems, Inc., Walmart Inc. and Target Corp.
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| Amount: | $1,503,000
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| Maturity: | Jan. 2, 2025
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| Contingent coupon: | 16% per year, payable monthly if each stock closes at or above coupon barrier on the observation date for that period
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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 monthly call date after three months
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| Initial levels: | $3,413.22 for Amazon, $63.53 for Cisco, $142.78 for Walmart, $224.91 for Target
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| Coupon barriers: | $2,389.25 for Amazon, $44.47 for Cisco, $99.95 for Walmart, $157.44 for Target; 70% of initial levels
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| Final barrier levels: | $2,389.25 for Amazon, $44.47 for Cisco, $99.95 for Walmart, $157.44 for Target; 70% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 31
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06741WYW7
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