Published on 7/26/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $651,000 phoenix autocallable notes on Russell 2000
By William Gullotti
Buffalo, N.Y., July 26 – Barclays Bank plc priced $651,000 of phoenix autocallable notes due June 3, 2022 linked to the performance of the Russell 2000 index, according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.5% if the index closes at or above its 80% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if the index closes at or above its initial level on any monthly call observation date beginning in August.
The payout at maturity will be par unless the index finishes below 80% of its initial value in which case investors will be fully exposed to the losses of the index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying index: | Russell 2000 index
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Amount: | $651,000
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Maturity: | June 3, 2022
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Coupon: | 6.5% annualized, payable monthly if index closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless underlying index finishes below final barrier, in which case full exposure to loss of index
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Call: | At par plus contingent coupon if underlying index closes at or above initial level on any monthly call observation date beginning in August
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Initial level: | 2,268.972
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Coupon barrier: | 1,815.18; 80% of initial level
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Final barrier: | 1,815.18; 80% of initial level
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Pricing date: | May 28
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Settlement date: | June 3
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Agent: | Barclays
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Fees: | 1.25%
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Cusip: | 06748ES61
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