Published on 9/30/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.21 million phoenix autocallable notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Sept. 30 – Barclays Bank plc priced $2.21 million of phoenix autocallable notes due June 26, 2023 linked to the least performing of the SPDR S&P Regional Banking ETF, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.75% if each underlier closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the final coupon unless any underlier finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying assets: | SPDR S&P Regional Banking ETF, Russell 2000 index, Nasdaq-100 index
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Amount: | $2,206,000
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Maturity: | June 26, 2023
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Coupon: | 6.75% annualized, payable monthly if each underlier closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any underlier finishes below final barrier, in which case 1% loss for each 1% decline of the worst performer from initial level
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly call observation date
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Initial levels: | 15,027.77 for Nasdaq, 2,186.18 for Russell, $61.79 for ETF
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Coupon barriers: | 10,519.44 for Nasdaq, 1,530.33 for Russell, $43.25 for ETF; 70% of initial levels
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Final barriers: | 10,519.44 for Nasdaq, 1,530.33 for Russell, $43.25 for ETF; 70% of initial levels
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Pricing date: | Sept. 21
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Settlement date: | Sept. 24
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Agent: | Barclays
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Fees: | 2.375%
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Cusip: | 06748WH22
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