Published on 5/12/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 phoenix autocallable notes on Palantir, Pinterest
Chicago, May 12 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Oct. 9, 2024 linked to least performing of stocks of Palantir Technologies Inc. and Pinterest Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 19.5% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if each stock closes at or above its initial level on any monthly call observation date after six months.
If the notes are not called and each stock finishes at or above its 50% barrier level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Palantir Technologies Inc. and Pinterest Inc.
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| Amount: | $500,000
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| Maturity: | Oct. 9, 2024
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| Coupon: | 19.5 % annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier level, par plus any final coupon; otherwise, investors will be fully exposed to losses of the worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above its initial level on any monthly observation date after six months
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| Initial levels: | $23.21 for Palantir, $50 for Pinterest
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| Coupon barriers: | $13.93 for Palantir, $30 for Pinterest; 60% of initial levels
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| Final barriers: | $11.60 for Palantir, $25 for Pinterest; 50% of initial levels
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| Pricing date: | Oct. 5, 2021
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| Settlement date: | Oct. 8, 2021
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06748WM83
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