Published on 2/22/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7.25 million phoenix autocallable notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Feb. 22 – Barclays Bank plc priced $7.25 million of phoenix autocallable notes due Feb. 21, 2023 linked to the least performing of the iShares MSCI EAFE ETF, the Nasdaq-100 index and the Russell 2000 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 13% if each underlier closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above 70% of its initial value. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | iShares MSCI EAFE ETF, Russell 2000 index, Nasdaq-100 index
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| Amount: | $7.25 million
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| Maturity: | Feb. 21, 2023
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| Coupon: | 13% annualized, payable quarterly if each underlier closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each underlier finishes at or above final barrier; otherwise, 1% loss for each 1% decline of the worst performer from initial level
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| Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly call observation date
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| Initial levels: | 14,268.59 for Nasdaq, 2,020.79 for Russell, $75.19 for ETF
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| Coupon barriers: | 9,988.01 for Nasdaq, 1,414.55 for Russell, $52.63 for ETF; 70% of initial levels
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| Final barriers: | 9,988.01 for Nasdaq, 1,414.55 for Russell, $52.63 for ETF; 70% of initial levels
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| Strike date: | Feb. 14
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 18
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| Agent: | Barclays
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| Fees: | None
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| Cusip: | 06748XFQ9
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