Published on 8/16/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.49 million of 10.2% autocallable fixed-coupon notes on three stocks
By Sarah Lizee
Olympia, Wash., Aug. 16 – Barclays Bank plc priced $2.49 million of 10.2% autocallable fixed-coupon notes due Feb. 16, 2023 linked to the common stocks of Walt Disney Co., Moderna, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if the least-performing stock closes at or above 90% of its initial price on any quarterly call observation date.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any stock finishes below the 50% trigger price, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable fixed-coupon notes
|
| Underlying stocks: | Walt Disney Co., Moderna, Inc. and Microsoft Corp.
|
| Amount: | $2,485,000
|
| Maturity: | Feb. 16, 2023
|
| Coupon: | 10.2%, payable quarterly
|
| Price: | Par
|
| Call: | At par plus the coupon if all stocks close at or above 90% of their initial prices on any quarterly call observation date
|
| Payout at maturity: | Par unless any stock finishes below the trigger price, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial price
|
| Initial prices: | $176.72 for Disney, $484.47 for Moderna, $288.33 for Microsoft
|
| Call prices: | $159.05 for Disney, $436.02 for Moderna, $259.50 for Microsoft; 90% of initial levels
|
| Trigger prices: | $88.36 for Disney, $242.24 for Moderna, $144.16 for Microsoft; 50% of initial levels
|
| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 17
|
| Underwriter: | Barclays
|
| Fees: | 2.65%
|
| Cusip: | 06748WCK7
|
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