Published on 12/26/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.15 million callable contingent coupon notes on Russell, S&P, Nasdaq
By Kiku Steinfeld
Chicago, Dec. 29 – Barclays Bank plc priced $3.15 million of callable contingent coupon notes due Aug. 31, 2023 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 7.75% if each asset closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
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 at maturity will be par unless any index finishes below 70% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
|
| Amount: | $3,154,000
|
| Maturity: | Aug. 31, 2023
|
| Contingent coupon: | 7.75% per year, payable each month that each asset closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below final barrier, in which case full exposure to any decline in least performing index
|
| Call option: | In whole at par plus any coupon due on any monthly call date after three months
|
| Initial levels: | 2,198.91 for Russell, 4,567.00 for S&P, 16,135.92 for Nasdaq
|
| Coupon barriers: | 1,539.24 for Russell, 3,196.90 for S&P, 11,295.14 for Nasdaq; 70% of initial levels
|
| Final barriers: | 1,539.24 for Russell, 3,196.90 for S&P, 11,295.14 for Nasdaq; 70% of initial levels
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 3
|
| Agent: | Barclays
|
| Fees: | 0.8%
|
| Cusip: | 06748WPR8
|
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