Published on 5/12/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.3 million callable contingent coupon notes on three stocks
Chicago, May 12 – Barclays Bank plc priced $1.3 million of callable contingent coupon notes due Oct. 9, 2024 linked to the least performing of the common stocks of American Express Co., Mastercard Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 9% if each stock closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that quarter. Previously unpaid coupons will also be paid.
The notes are callable at par on any quarterly call valuation date.
The payout at maturity will be par unless the final level of the least performing stock is less than its 50% barrier level, in which case investors will lose 1% for each 1% decline of the least performing stock, payable in shares.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying stocks: | American Express Co., Mastercard Inc. and Visa Inc.
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| Amount: | $1,300,000
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| Maturity: | Oct. 9, 2024
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| Contingent coupon: | 9% per year, payable quarterly if each stock closes at or above barrier level on observation date for that quarter; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless final level of least performing stock is less than barrier level, in which case 1% loss for each 1% decline of least performing stock
|
| Call option: | At par on any quarterly call valuation date
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| Initial stock levels: | $173.94 for AmEx, $360.18 for Mastercard, $230.46 for Visa
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| Coupon barrier levels: | $139.15 for AmEx, $288.14 for Mastercard, $184.37 for Visa; 80% of initial levels
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| Barrier levels: | $86.97 for AmEx, $180.09 for Mastercard, $115.23 for Visa; 60% of initial levels
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| Pricing date: | Oct. 5, 2021
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| Settlement date: | Oct. 8, 2021
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| Agent: | Barclays
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| Fees: | 1%
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| Cusip: | 06741WG95
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