Published on 4/9/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.32 million callable fixed-coupon notes on S&P
By Wendy Van Sickle
Columbus, Ohio, April 9 – Barclays Bank plc priced $5.32 million of 5% callable fixed-coupon notes due March 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be callable at par on any monthly valuation date after six months.
If the notes are not called, the payout at maturity will be par unless the index finishes below the trigger level, 60% of its initial level, in which case the payout will be par minus 1% for every 1% that the index declines from its initial level.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable fixed-coupon notes
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Underlying index: | S&P 500
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Amount: | $5,315,000
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Maturity: | March 31, 2023
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Coupon: | 5%, payable monthly
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Price: | Par
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Call option: | At par on any monthly valuation date after six months
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Payout at maturity: | Par unless index finishes below trigger level, in which case par minus 1% for every 1% that index declines from initial level
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Initial level: | 3,974.54
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Trigger level: | 2,384.72; 60% of initial level
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06748EDU4
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