Published on 12/15/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $9.66 million contingent market-linked autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 15 – Barclays Bank plc priced $9.66 million of market-linked securities due Dec. 11, 2024 – autocallable with contingent coupon and contingent downside linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.33% if each index closes at or above its 75% coupon threshold on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below its 75% downside threshold, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.
Wells Fargo Securities, LLC and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $9.66 million
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| Maturity: | Dec. 11, 2024
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| Coupon: | 9.33% annualized, payable quarterly if each index closes at or above 75% coupon threshold on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 25%, in which case 1% loss per 1% decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any interest payment date after six months
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| Initial levels: | 4,591.67 for S&P, 2,203.479 for Russell, 15,846.16 for Nasdaq
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| Coupon threshold levels: | 3,443.7525 for S&P, 1,652.60925 for Russell, 11,884.62 for Nasdaq; 75% of initial levels
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| Downside threshold levels: | 3,443.7525 for S&P, 1,652.60925 for Russell, 11,884.62 for Nasdaq; 75% of initial levels
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 9
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| Agents: | Wells Fargo Securities, LLC and Barclays
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| Fees: | 2.175%
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| Cusip: | 06748WWV1
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