Published on 3/31/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.92 million buffered autocallable contingent coupon notes on indexes
By Taylor Fox
New York, March 31 – Barclays Bank plc priced $2.92 million of buffered autocallable contingent coupon notes due March 23, 2023 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 5.25% if each index closes at or above its 80% coupon barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par plus the final coupon unless either index falls more than 20%, in which case investors will lose 1% for each 1% decline of the worse performing index beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
|
| Underlying indexes: | Nasdaq-100 index and Russell 2000
|
| Amount: | $2,918,000
|
| Maturity: | March 23, 2023
|
| Contingent coupon: | Contingent quarterly coupon of 5.25% if each component closes at or above 80% coupon barrier level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than negative 20%, par plus contingent coupon; otherwise 1% loss for each 1% decline of worse-performing index beyond 20%
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial levels on any quarterly determination date after six months
|
| Initial index levels: | 12,866.99 for Nasdaq and 2,287.55 for Russell
|
| Coupon barrier levels: | 10,293.59 for Nasdaq and 1,830.04 for Russell; 80% of initial levels
|
| Pricing date: | March 19
|
| Settlement date: | March 24
|
| Agent: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06748EBX0
|
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