Published on 2/28/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $946,000 callable contingent coupon notes on MSCI EM, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Feb. 28 – Barclays Bank plc priced $946,000 of callable contingent coupon notes due Sept. 13, 2024 linked to the least performing of the MSCI Emerging Markets index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 7% if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that period. Payments will include any previously unpaid coupons for prior quarters.
At Barclays’ option, the notes will be callable in whole at par on any quarterly coupon payment date after six months.
If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | MSCI Emerging Markets, Russell 2000, Nasdaq-100
|
| Amount: | $946,000
|
| Maturity: | Sept. 13, 2024
|
| Contingent coupon: | 7% per year, payable quarterly plus any previously unpaid coupons if each index closes at or above coupon barrier level on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par on any quarterly coupon payment date after six months
|
| Initial levels: | 1,308.94 for EM, 15,440.75 for Nasdaq and 2,227.55 for Russell
|
| Coupon barriers: | 1,047.15 for EM, 12,352.60 for Nasdaq and 1,782.04 for Russell; 80% of initial levels
|
| Barrier values: | 916.26 for EM, 10,808.53 for Nasdaq and 1,559.29 for Russell; 70% of initial levels
|
| Pricing date: | Sept. 10
|
| Settlement date: | Sept. 15
|
| Agent: | Barclays
|
| Fees: | 2.85%
|
| Cusip: | 06748WH55
|
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