Published on 4/6/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $510,000 callable contingent coupon notes on three stocks
By Kiku Steinfeld
Chicago, April 6 – Barclays Bank plc priced $510,000 of callable contingent coupon notes due Sept. 30, 2024 linked to the least performing of the common stocks of Delta Air Lines, Inc., Sabre Corp. and Norwegian Cruise Line Holdings Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 17.8% if each stock closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The notes are callable at par on any quarterly call valuation date.
The payout at maturity will be par unless the final level of the least performing stock is less than its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying stocks: | Delta Air Lines, Inc., Sabre Corp. and Norwegian Cruise Line Holdings Ltd.
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| Amount: | $510,000
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| Maturity: | Sept. 30, 2024
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| Contingent coupon: | 17.8% per year, payable quarterly if each stock closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless final level of least performing stock is less than barrier level, in which case 1% loss for each 1% decline of least performing stock
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| Call option: | At par on any quarterly call valuation date
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| Initial stock levels: | $43.53 for Delta, $12.20 for Sabre, $28.10 for Norwegian
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| Coupon barrier levels: | $26.12 for Delta, $7.32 for Sabre, $16.86 for Norwegian; 60% of initial levels
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| Barrier levels: | $26.12 for Delta, $7.32 for Sabre, $16.86 for Norwegian; 60% of initial levels
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| Pricing date: | Sept. 24, 2021
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| Settlement date: | Sept. 29, 2021
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| Agent: | Barclays
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| Fees: | 3.25%
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| Cusip: | 06748WJT1
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