Published on 11/5/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $340,000 fixed coupon notes on Tesla
By Wendy Van Sickle
Columbus, Ohio, Nov. 5 – Barclays Bank plc priced $340,000 of 18% fixed coupon notes due Oct. 29, 2021 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless the stock finishes below its in initial level and ever closes below its knock-in level, 60% of its initial level, in which case investors will lose 1% for each 1% decline, paid in cash or shares.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Fixed coupon notes
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Underlying stock: | Tesla, Inc.
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Amount: | $340,000
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Maturity: | Oct. 29, 2021
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Fixed coupon: | 18% payable quarterly
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Price: | Par
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Payout at maturity: | Par unless stock finishes below initial level and ever closes below knock-in level, in which case 1% loss for each 1% decline
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Initial stock level: | $420.28
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Knock-in level: | $252.17, 60% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Oct. 29
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Agent: | Barclays
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Fees: | 2.5%
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Cusip: | 06741WLS7
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