Published on 4/8/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.33 million phoenix autocallable notes linked to Facebook
By Wendy Van Sickle
Columbus, Ohio, April 8 – Barclays Bank plc priced $1.33 million of phoenix autocallable notes due March 29, 2022 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if the stock closes at or above its 70% coupon barrier on the related observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial share price on any quarterly call observation date after six months.
The payout at maturity will be par unless the stock finishes below 70% of its initial value in which case investors will be fully exposed to the decline, payable either in shares or cash at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Facebook, Inc.
|
| Amount: | $1,327,000
|
| Maturity: | March 29, 2022
|
| Coupon: | 9% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below final barrier, in which case full exposure to decline, payable in either 3.4408 shares or cash at issuer’s option
|
| Call: | At par plus contingent coupon if stock closes at or above initial share price on any quarterly call observation date after six months
|
| Initial share prices: | $290.63
|
| Coupon barrier level: | $203.44, 70% of initial level
|
| Final barrier level: | $203.44, 70% of initial level
|
| Pricing date: | March 23
|
| Settlement date: | March 26
|
| Agent: | Barclays
|
| Fees: | 0.6%
|
| Cusip: | 06741WRT9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
