Published on 10/23/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.09 million autocallable contingent coupon notes on three stocks
By Kiku Steinfeld
Chicago, Oct. 25 – Barclays Bank plc priced $1.09 million of autocallable contingent coupon notes due Oct. 18, 2024, linked to the worst performing of the common stocks of salesforce.com, inc., Hewlett Packard Enterprise Co. and Palo Alto Networks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 9.25% if each stock closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be called at par if each stock closes above its initial level on any quarterly valuation date after six months.
If each stock finishes at or above its final barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | salesforce.com, inc., Hewlett Packard Enterprise Co. and Palo Alto Networks, Inc.
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| Amount: | $1,087,000
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| Maturity: | Oct. 18, 2024
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| Contingent coupon: | 9.25% per year, payable quarterly if each stock closes at or above coupon barrier on the valuation date for that period; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing stock
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| Call: | At par if each stock closes above initial level on any quarterly valuation date after six months
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| Initial level: | $279 for salesforce, $14.70 for HP and $505.24 for Palo Alto
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| Coupon barriers: | $167.40 for salesforce, $8.82 for HP and $303.14 for Palo Alto; 60% of initial levels
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| Final barriers: | $167.40 for salesforce, $8.82 for HP and $303.14 for Palo Alto; 60% of initial levels
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 15
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| Agent: | Barclays
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| Fees: | 1.95%
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| Cusip: | 06748WMY6
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