By William Gullotti
Buffalo, N.Y., Feb. 22 – Barclays Bank plc priced $3 million of callable contingent coupon notes due Feb. 20, 2024 linked to the worst performing of Meta Platforms, Inc. and ViacomCBS Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 26.75% if each stock 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 quarterly call date.
If the notes are not redeemed early 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 not below its 60% final barrier level, investors will receive par. Otherwise, investors will be fully exposed to the decline of the least performing stock from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stocks: | ViacomCBS Inc., Meta Platforms, Inc.
|
| Amount: | $3 million
|
| Maturity: | Feb. 20, 2024
|
| Contingent coupon: | 26.75% per year, payable quarterly if each stock closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each stock finishes at or above coupon barrier; if the worst performer finishes below coupon barrier but at or above final barrier, par; otherwise, full exposure to decline of least performing stock from its initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly call date
|
| Initial levels: | $35.03 for ViacomCBS, $217.70 for Meta
|
| Coupon barriers: | $24.52 for ViacomCBS, $152.39 for Meta; 70% of initial levels
|
| Final barrier levels: | $21.02 for ViacomCBS, $130.62 for Meta; 60% of initial levels
|
| Strike date: | Feb. 14
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 18
|
| Agent: | Barclays
|
| Fees: | 0.1%
|
| Cusip: | 06748XFR7
|
|
|
© 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.
