Published on 1/10/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.61 million phoenix autocallable notes on four stocks
By William Gullotti
Buffalo, N.Y., Jan. 10 – Barclays Bank plc priced $2.61 million of phoenix autocallable notes due Jan. 6, 2025 linked to the least performing of the stocks of Apple Inc., Tesla, Inc., Coinbase Global, Inc. and Blackstone Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 38.25% if each stock closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if each stock closes at or above its initial level on any monthly call observation date after three months.
If the notes are not called and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above the 60% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Apple Inc., Tesla, Inc., Coinbase Global, Inc., Blackstone Inc.
|
| Amount: | $2,605,000
|
| Maturity: | Jan. 6, 2025
|
| Coupon: | 38.25% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above coupon barrier level, par plus final coupon; if worst performer finishes below coupon barrier but at or above final barrier, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from initial level
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly observation date after three months
|
| Initial levels: | $177.57 for Apple, $1,056.78 for Tesla, $252.37 for Coinbase, $129.39 for Blackstone
|
| Coupon barriers: | $124.30 for Apple, $739.75 for Tesla, $176.66 for Coinbase, $90.57 for Blackstone; 70% of initial levels
|
| Final barriers: | $106.54 for Apple, $634.07 for Tesla, $151.42 for Coinbase, $77.63 for Blackstone; 60% of initial levels
|
| Pricing date: | Dec. 31
|
| Settlement date: | Jan. 5
|
| Agent: | Barclays
|
| Fees: | 0.75%
|
| Cusip: | 06748WZ55
|
|
|
© 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.
