Published on 6/25/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $834,000 phoenix autocallable notes on two stocks
By William Gullotti
Buffalo, N.Y., June 25 – Barclays Bank plc priced $834,000 of phoenix autocallable notes due June 21, 2024 linked to least performing of stocks of Cleveland-Cliffs Inc. and Intel Corp., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 22% 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 monthly call observation date after one year.
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 the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Cleveland-Cliffs Inc., Intel Corp.
|
| Amount: | $834,000
|
| Maturity: | June 21, 2024
|
| Coupon: | 22% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus unless any stock finishes below final barrier, in which case full exposure to loss of least-performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any monthly call observation date after one year
|
| Initial level: | $20.27 for Cleveland-Cliffs, $55.67 for Intel
|
| Coupon barriers: | $12.16 for Cleveland-Cliffs, $33.40 for Intel; 60% of initial levels
|
| Final barriers: | $12.16 for Cleveland-Cliffs, $33.40 for Intel; 60% of initial levels
|
| Pricing date: | June 22
|
| Settlement date: | June 25
|
| Agent: | Barclays
|
| Fees: | 0.85%
|
| Cusip: | 06748EYE7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
