Published on 9/1/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $17.98 million step-down trigger autocallable notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 1 – Barclays Bank plc priced $17.98 million 0% step-down trigger autocallable notes due Aug. 30, 2024 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a call return rate if each index closes above its initial level on any quarterly observation date after one year or above its 75% downside threshold level on the maturity date. The call return rate is 8.25% per year.
If the notes are not called, the worst performing index has finished below 75% of its initial level and investors will be fully exposed to the losses of the worst performing index.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index
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| Amount: | $17.98 million
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| Maturity: | Aug. 30, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Call return of par plus 24.75% if all indexes close above their 75% downside threshold price, otherwise full exposure to losses of worst performing index
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| Call: | Par of $10 plus annual call return rate of 8.25% if all indexes close above initial level on any quarterly observation date after one year
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| Initial levels: | 35,455.8 for Dow, 2,277.151 for Russell 2000 and 15,432.95 for Nasdaq-100
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| Downside threshold levels: | 26,591.85 for Dow, 1,707.863 for Russell 2000 and 11,574.71 for Nasdaq-100, 75% of initial levels
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 1.5%
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| Cusip: | 06747X649
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