Published on 3/9/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $32.46 million buffered autocallable fixed-coupon notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 9 – Barclays Bank plc priced $32.46 million of buffered autocallable fixed-coupon notes due March 5, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon at 4.9% per year.
The notes will be automatically called at par if each index closes at or above its initial level on any semiannual call date after one year.
If the notes are not called and the index finishes at or above 80% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for each 1% index decline beyond the 20% buffer.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable fixed-coupon notes
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Underlying index: | S&P 500 index
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Amount: | $32,462,000
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Maturity: | March 5, 2026
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Coupon: | 4.9% per year paid semiannually
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Price: | Par
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Call: | At par if index closes at or above initial level on any semiannual call date after one year
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Payout at maturity: | Par unless index finishes below buffer level, in which case 1.25% loss for each 1% decline of index beyond buffer level
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Initial level: | 4,386.54
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Buffer level: | 3,509.23, 80% of initial level
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Pricing date: | March 2
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Settlement date: | March 7
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Agent: | Barclays
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Fees: | None
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Cusip: | 06748XFE6
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