Published on 12/5/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $120,000 autocallable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, Dec. 6 – Barclays Bank plc priced $120,000 of autocallable contingent coupon notes due Nov. 30, 2022 linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 7% if each index closes at or above its coupon barrier level, 75% of its initial level, on the valuation date for that period.
The notes will be called at par plus the coupon due if each index closes above its initial level on any monthly valuation date after six months.
The payout will be par unless any index finishes below its initial level and any index has closed below its 75% barrier level on any day during the life of the notes, in which case investors will be exposed to the decline of the least-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $120,000
|
| Maturity: | Nov. 30, 2022
|
| Contingent coupon: | 7% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below its barrier level, in which case exposure to decline of least-performing index
|
| Call: | At par plus coupon if each index closes above initial level on any monthly valuation date after six months
|
| Initial levels: | 4,690.70 for S&P, 35,813.80 for Dow, 2,327.86 for Russell
|
| Coupon barriers: | 3,518.02 for S&P, 26,860.35 for Dow, 1,745.89 for Russell; 75% of initial levels
|
| Barrier levels: | 3,518.02 for S&P, 26,860.35 for Dow, 1,745.89 for Russell; 75% of initial levels
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 29
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06748WQG1
|
© 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.
