Published on 7/16/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $903,000 callable contingent coupon notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., July 16 – Barclays Bank plc priced $903,000 of callable contingent coupon notes due April 18, 2023 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 11.35% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly call date after three months.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 60% trigger value during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying assets: | Russell 2000 index, Nasdaq-100 index, VanEck Vectors Gold Miners ETF
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Amount: | $903,000
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Maturity: | April 18, 2023
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Contingent coupon: | 11.35% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
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Price: | Par
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Payout at maturity: | Par unless any underlier closes below its trigger value during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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Call option: | In whole at par plus any coupon due on any monthly call date after three months
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Initial levels: | $34.28 for ETF, 2,238.86 for Russell, 14,874.54 for Nasdaq
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Coupon barriers: | $24.00 for ETF, 1,567.2 for Russell, 10,412.18 for Nasdaq; 70% of initial levels
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Final barrier levels: | $20.57 for ETF, 1,343.32 for Russell, 8,924.72 for Nasdaq; 60% of initial levels
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Pricing date: | July 13
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Settlement date: | July 16
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Agent: | Barclays
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Fees: | 0.88%
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Cusip: | 06748W4C4
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