Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $540,000 callable contingent coupon notes on ARK Innovation
Chicago, May 18 – Barclays Bank plc priced $540,000 of callable contingent coupon notes due Oct. 30, 2023 linked to the shares of the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Every month, the notes pay a coupon at an annualized rate of 10.25% if the ETF closes at or above its coupon barrier value, 75% of its initial level, on the observation date for that period.
The notes are callable at par plus any coupon due on any monthly observation date after three months.
If the ETF finishes at or above its barrier value, 75% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying ETF: | ARK Innovation ETF
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Amount: | $540,000
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Maturity: | Oct. 30, 2023
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Contingent coupon: | 10.25% per year, payable monthly if the ETF closes at or above coupon barrier value on observation date for that period
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Price: | Par
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Payout at maturity: | If the ETF finishes at or above barrier value, par plus coupon; if ETF falls below barrier value, full exposure to losses
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Call option: | At par plus any coupon due on any monthly observation date after three months
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Initial level: | $121.81
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Coupon barrier: | $91.36; 75% of initial level
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Barrier value: | $91.36; 75% of initial level
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Pricing date: | Oct. 25, 2021
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Settlement date: | Oct. 28, 2021
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Agent: | Barclays
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Fees: | 2.15%
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Cusip: | 06748WNT6
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