Published on 7/2/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $549,000 buffered autocallable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, July 2 – Barclays Bank plc priced $549,000 of buffered autocallable contingent coupon notes due July 3, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 4.4% if each index closes at or above its 80% coupon barrier level on the determination date for that quarter.
After one year, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final coupon unless either index falls more than 20%, in which case investors will lose 1% for each 1% decline of the worse performing index beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $549,000
|
| Maturity: | July 3, 2024
|
| Contingent coupon: | Contingent quarterly coupon of 4.4% if each component closes at or above 80% coupon barrier level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than negative 20%, par plus contingent coupon; otherwise 1% loss for each 1% decline of worse-performing index beyond 20%
|
| Call: | After one year, automatically at par plus contingent coupon if each index closes at or above initial levels on any quarterly determination date other than the final one
|
| Initial index levels: | 4,290.61 for S&P 500 and 2,322.34 for Russell 2000
|
| Coupon barrier levels: | 3,432.49 for S&P 500 and 1,857.87 for Russell 2000; 80% of initial levels
|
| Buffer levels: | 3,432.49 for S&P 500 and 1,857.87 for Russell 2000; 80% of initial levels
|
| Pricing date: | June 28
|
| Settlement date: | July 1
|
| Agent: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06748EYR8
|
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