Published on 4/15/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $721,000 callable contingent coupon notes on indexes, banking ETF
By Kiku Steinfeld
Chicago, April 18 – Barclays Bank plc priced $721,000 of callable contingent coupon notes due March 30, 2023 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 9% if each underlier 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 the worst performer finishes at or above its 70% final barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying assets: | Russell 2000 index, Nasdaq-100 index, SPDR S&P Regional Banking ETF
|
Amount: | $721,000
|
Maturity: | March 30, 2023
|
Contingent coupon: | 9% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
|
Price: | Par
|
Payout at maturity: | If each underlier finishes at or above final barrier, par; otherwise, loss of 1% for every 1% decline of the worst performer from its initial level
|
Call option: | In whole at par plus any coupon due on any quarterly call date
|
Initial levels: | $68.38 for ETF, 2,281.00 for Russell, 15,204.83 for Nasdaq
|
Coupon barriers: | $47.87 for ETF, 1,596.70 for Russell, 10,643.38 for Nasdaq; 70% of initial levels
|
Final barrier levels: | $47.87 for ETF, 1,596.70 for Russell, 10,643.38 for Nasdaq; 70% of initial levels
|
Pricing date: | Sept. 27
|
Settlement date: | Sept. 30
|
Agent: | Barclays
|
Fees: | 2.425%
|
Cusip: | 06748WJY0
|
|
|
© 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.