Published on 10/25/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $798,000 phoenix autocallable notes on three stocks
By Kiku Steinfeld
Chicago, Oct. 25 – Barclays Bank plc priced $798,000 of phoenix autocallable notes due Oct. 18, 2024 linked to the least performing of the stocks of Deere & Co., Netflix, Inc. and Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly call observation date after three months.
The payout at maturity will be par, unless any stock finishes below 60% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Deere & Co., Netflix, Inc. and Advanced Micro Devices, Inc.
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| Amount: | $798,000
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| Maturity: | Oct. 18, 2024
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| Coupon: | 12% annualized, payable monthly if each stock 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 any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any monthly call observation date after three months
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| Initial level: | $329 for Deere, $629.76 for Netflix, $109.16 for AMD
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| Coupon barriers: | $197.40 for Deere, $377.86 for Netflix, $65.50 for AMD; 60% of initial levels
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| Final barriers: | $197.40 for Deere, $377.86 for Netflix, $65.50 for AMD; 60% of initial levels
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 18
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| Agent: | Barclays
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| Fees: | 3.25%
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| Cusip: | 06748WKQ5
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