Published on 6/12/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.69 million phoenix autocallable notes on Uber
By Kiku Steinfeld
Chicago, June 14 – Barclays Bank plc priced $1.69 million of phoenix autocallable notes due June 23, 2022 linked to the common stock of Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if the stock closes at or above its 68% coupon barrier on a related observation date.
The notes will be called at par if the stock closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par unless the stock finishes below 68% of its initial value in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | Uber Technologies, Inc.
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| Amount: | $1,693,000
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| Maturity: | June 23, 2022
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| Coupon: | 10% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Call: | Automatically at par if stock closes at or above initial level on any monthly call observation date after six months
|
| Payout at maturity: | Par unless stock finishes below final barrier, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price – 20.3376 shares – or cash equivalent
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| Initial level: | $49.17
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| Coupon barrier level: | $33.44, 68% of initial level
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| Final barrier level: | $33.44, 68% of initial level
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| Pricing date: | May 18
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| Settlement date: | May 21
|
| Agent: | Barclays
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| Fees: | 2.15%
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| Cusip: | 06741WUL2
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