Published on 11/24/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $850,000 buffered autocallable fixed-coupon notes on stocks
By Kiku Steinfeld
Chicago, Nov. 24 – Barclays Bank plc priced $850,000 of 6.5% buffered autocallable fixed-coupon notes due Aug. 18, 2022 linked to the least performing of the stocks of Apple Inc., Visa Inc., Microsoft Corp. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly.
The notes will be called at par plus the coupon if the laggard stock closes at or above its initial level on any quarterly call valuation date after six months.
Investors will receive par if the laggard stock finishes at or above 85% of its initial level.
If the laggard stock finishes below 85% of its initial level, investors will lose 1.176471% for each 1% decline of the laggard stock beyond the 15% buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable notes
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| Underlying stocks: | Apple Inc., Visa Inc., Microsoft Corp. and Amazon.com, Inc.
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| Amount: | $850,000
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| Maturity: | Aug. 18, 2022
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| Coupon: | 6.5% annual rate, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par if laggard stock finishes at or above buffer level; otherwise, 1.176471% loss for each 1% decline beyond buffer
|
| Call: | Automatically at par plus coupon if laggard stock closes at or above initial level on any quarterly call valuation date after six months
|
| Initial level: | $148.89 for Apple, $231.79 for Visa, $289.81 for Microsoft, $3,303.50 for Amazon
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| Buffer level: | $126.56 for Apple, $197.02 for Visa, $246.34 for Microsoft, $2,807.98 for Amazon; 85% of initial levels
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| Pricing date: | Aug. 13
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| Settlement date: | Aug. 18
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| Agent: | Barclays
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| Fees: | 1.6%
|
| Cusip: | 06748WD59
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