Published on 2/1/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $700,000 phoenix autocallable notes linked to three stocks
Chicago, Feb. 1 – Barclays Bank plc priced $700,000 of phoenix autocallable notes due April 12, 2022 linked to the least performing of the stocks of Advanced Micro Devices, Inc., Qualcomm Inc. and Baidu, Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 20% 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 70% barrier level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the laggard stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Advanced Micro Devices, Inc., Qualcomm Inc. and Baidu, Inc.
|
| Amount: | $700,000
|
| Maturity: | April 12, 2022
|
| Coupon: | 20% 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 barrier level, par plus final coupon; otherwise, full exposure to decline of laggard stock
|
| 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: | $81.09 for AMD, $137.79 for Qualcomm, $219.70 for Baidu
|
| Coupon barriers: | $56.76 for AMD, $96.45 for Qualcomm, $153.79 for Baidu; 70% of initial levels
|
| Final barriers: | $56.76 for AMD, $96.45 for Qualcomm, $153.79 for Baidu; 70% of initial levels
|
| Pricing date: | April 6
|
| Settlement date: | April 9
|
| Agent: | Barclays
|
| Fees: | 0.6%
|
| Cusip: | 06748EJF1
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