Published on 5/6/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.53 million phoenix autocallable notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, May 6 – Barclays Bank plc priced $1.53 million of phoenix autocallable notes due April 25, 2024 linked to least performing of stocks of Apple Inc., Walt Disney Co. and Amazon.com, Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if each stock closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless any stock finishes below 60% of its initial value in which case investors will be fully exposed to the loss of the least performing stock.
Barclays is agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Apple Inc., Walt Disney Co. and Amazon.com, Inc.
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| Amount: | $1.53 million
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| Maturity: | April 25, 2024
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| Coupon: | 11.5% annualized, payable quarterly if each stock closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus unless any stock finishes below final barrier, in which case full exposure to loss of least-performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly call observation date after six months
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| Initial level: | $133.50 for Apple, $183.11 for Walt Disney $3,362.02 for Amazon
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| Coupon barriers: | $80.10 for Apple, $109.87 for Walt Disney $2,017.21 for Amazon; 60% of initial levels
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| Final barriers: | $80.10 for Apple, $109.87 for Walt Disney $2,017.21 for Amazon; 60% of initial levels
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| Pricing date: | April 21
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| Settlement date: | April 26
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| Agent: | Barclays
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| Fees: | 0.35%
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| Cusip: | 06748EKH5
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