Published on 6/17/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $987,000 phoenix autocallable notes on two stocks
By Wendy Van Sickle
Columbus, Ohio, June 17 – Barclays Bank plc priced $987,000 of phoenix autocallable notes due May 24, 2024 linked to the least performing of the Amazon.com, Inc. and the Apple 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 9.8% if each stock closes at or above its 80% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any stock finishes below 80% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Apple Inc., Amazon.com, Inc.
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| Amount: | $987,000
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| Maturity: | May 24, 2024
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| Coupon: | 9.8% annualized, payable quarterly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $3,320.08 for Amazon.com $2,294.13 for Apple
|
| Coupon barriers: | $2,562.46 for Amazon.com, $1,835.30 for Apple; 80% of initial levels
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| Final barriers: | $2,562.46 for Amazon.com, $1,835.30 for Apple; 80% of initial levels
|
| Pricing date: | May 21
|
| Settlement date: | May 26
|
| Agent: | Barclays
|
| Fees: | 2.75%
|
| Cusip: | 06748ERV7
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