Published on 4/19/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.7 million phoenix autocallable notes on Harley-Davidson
Chicago, April 19 – Barclays Bank plc priced $3.7 million of phoenix autocallable notes due March 20, 2023 linked to the common stock of Harley-Davidson, 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 11.95% if the stock closes at or above its 60% 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 60% of its initial value, in which case investors will be fully exposed to the decline, payable in cash or in 26.43405 shares of the stock with the fractional share amount paid in cash.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Harley-Davidson, Inc.
|
| Amount: | $3,702,000
|
| Maturity: | March 20, 2023
|
| Coupon: | 11.95% 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 cash or in 26.43405 shares of the stock with the fractional share amount paid in cash
|
| 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 price: | $37.83
|
| Coupon barrier level: | $22.70, 60% of initial level
|
| Final barrier level: | $22.70, 60% of initial level
|
| Pricing date: | March 15
|
| Settlement date: | March 18
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741WRZ5
|
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