Published on 2/3/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $725,000 contingent coupon autocallables on three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – Barclays Bank plc priced $725,000 of autocallable contingent coupon notes due Jan. 20, 2023 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 9% per annum if each index closes at or above its 70% coupon barrier level on the determination date for that month, in which case any previously unpaid coupons will also be paid.
After one year, the notes will be automatically called at par coupon if each index closes at or above its initial level on any quarterly autocall date after six months.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $725,000
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| Maturity: | Jan. 20, 2023
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| Contingent coupon: | Contingent monthly coupon of 9% plus any previously unpaid coupons if each index closes at or above coupon barrier level on the determination date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of worst-performing index
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| Call: | After one year, automatically at par if each index closes at or above initial level on any quarterly autocall date after six months
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| Initial levels: | 3,768.25 for S&P, 2,123.2 for Russell and 12,803.93 for Nasdaq
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| Coupon barrier levels: | 2,637.78 for S&P, 1,486.24 for Russell and 8,962.75 for Nasdaq; 70% of initial levels
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| Final barrier levels: | 2,637.78 for S&P, 1,486.24 for Russell and 8,962.75 for Nasdaq; 70% of initial levels
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06747QXH5
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