Published on 11/24/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 callable contingent coupon notes on MSCI Emerging Market, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 24 – Barclays Bank plc priced $500,000 of callable contingent coupon notes due May 16, 2024 linked to the worst performing of the Russell 2000, the Nasdaq-100 index and the MSCI Emerging Market index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 6.55% if each asset closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after three months.
If the notes are not redeemed, the payout will be par plus any final coupon unless any index finishes below 70% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Russell 2000, MSCI Emerging Market index and Nasdaq-100 index
|
| Amount: | $500,000
|
| Maturity: | May 16, 2024
|
| Contingent coupon: | 6.55% per year, payable monthly if each asset closes at or above coupon barrier level on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below final barrier level, in which case investors will be fully exposed to the loss of the least performing index
|
| Call option: | In whole at par plus any coupon due on any monthly valuation date after three months
|
| Initial levels: | 1,292.53 for MSCI Emerging Market, 15,109.36 for Nasdaq, 2,247.76 for Russell
|
| Coupon barriers: | 904.77 for MSCI Emerging Market, 10,576.55 for Nasdaq, 1,573.43 for Russell; 70% of initial levels
|
| Final barriers: | 904.77 for MSCI Emerging Market, 10,576.55 for Nasdaq, 1,573.43 for Russell; 70% of initial levels
|
| Pricing date: | Aug. 6
|
| Settlement date: | Aug. 11
|
| Agent: | Barclays
|
| Fees: | 2.9%
|
| Cusip: | 06748WC27
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
