Published on 9/7/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3 million contingent income callable securities on S&P, Stoxx, MSCI EM
By William Gullotti
Buffalo, N.Y., Sept. 7 – Barclays Bank plc priced $3 million of contingent income callable securities due Aug. 30, 2024 linked to the least performing of the S&P 500 index, the MSCI Emerging Markets index and the Euro Stoxx 50 index according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 7.5% per year if each index closes at or above its downside threshold level, 65% of its initial level, on every trading day during the observation period.
The notes may be called at par plus any coupon due on any quarterly observation date other than the final.
If each index finishes at or above its downside threshold level, the payout at maturity will be par plus any final coupon due. Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income callable securities
|
| Underlying indexes: | S&P 500 index, MSCI Emerging Markets index, Euro Stoxx 50 index
|
| Amount: | $3,002,000
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| Maturity: | Aug. 30, 2024
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| Coupon: | 7.5% per year, payable quarterly if each index closes at or above downside threshold level on every trading day during the observation period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus any final coupon due; otherwise, 1% loss for every 1% that least performing index declines from initial level
|
| Call: | At par plus any coupon due on any quarterly evaluation date at the issuer’s option
|
| Initial index levels: | 4,509.37 for S&P, 1,272.67 for MSCI EM, 4,190.98 for Stoxx
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| Downside threshold levels: | 2,931.091 for S&P, 827.236 for MSCI EM, 2,724.137 for Stoxx; 65% of initial levels
|
| Pricing date: | Aug. 27
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| Settlement date: | Sept. 2
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.25%
|
| Cusip: | 06748WE33
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