Published on 11/29/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 buffered autocallable contingent coupon notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 29 – Barclays Bank plc priced $500,000 of buffered autocallable contingent coupon notes due Aug. 14, 2024 linked to the least performing of the shares of Boeing Co., American Airlines Group Inc. and United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at a 10.5% annualized rate if the lower stock closes at or above its 65% coupon barrier value on the related observation date.
The notes will be callable at par if the lowest stock closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par if the lowest stock finishes below 65% of initial level, in which case investors will lose 1.538462% for each 1% decline of that stock beyond 35%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable contingent coupon notes
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| Underlying stocks: | Boeing Co., American Airlines Group Inc. and United Airlines Holdings, Inc.
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| Amount: | $500,000
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| Maturity: | Aug. 14, 2024
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| Contingent coupon: | 10.5% annual rate, payable monthly if the lowest stock closes at or above coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below buffer level; in which case 1.538462% loss for each 1% decline beyond buffer
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| Call: | At par if stock closes at or above initial level on any quarterly observation date after one year
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| Initial levels: | $20.56 for American, $232.27 for Boeing and $46.45 for United Airlines
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| Coupon barrier levels: | $13.36 for American $150.98 for Boeing and $30.79 for United Airlines, 65% of initial levels
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| Buffer levels: | $13.36 for American $150.98 for Boeing and $30.79 for United Airlines, 65% of initial levels
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| Pricing date: | Aug. 9
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| Settlement date: | Aug. 12
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| Agent: | Barclays
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| Fees: | 2%
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| Cusip: | 06741W3G3
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