Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million contingent income autocalls on two stocks
Chicago, May 18 – Barclays Bank plc priced $1 million of autocallable contingent income securities due Oct. 30, 2024 linked to the American Depositary Shares of NIO Inc. and the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 18% per year if each stock closes at or above its coupon barrier level, 60% of its initial level, on the observation date.
The notes will be automatically called at par plus the coupon due if each stock closes at or above its initial level on any quarterly observation date.
If each stock finishes at or above its 60% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the least performing stock declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is acting as a selected dealer.
Issuer: | Barclays Bank plc
|
Issue: | Autocallable contingent income securities
|
Underlying stocks: | NIO Inc. and Tesla, Inc.
|
Amount: | $1 million
|
Maturity: | Oct. 30, 2024
|
Coupon: | 18% per year, payable quarterly if each stock closes at or above coupon barrier on the determination date for the observation period
|
Price: | Par of $10
|
Payout at maturity: | If each stock finishes at or above downside threshold, par plus coupon; otherwise, 1% loss for every 1% that least performing stock declines from initial level
|
Call: | Automatically at par plus any coupon otherwise due if each stock closes at or above initial level on any quarterly observation date
|
Initial stock levels: | $41.27 for NIO, $1,024.86 for Tesla
|
Coupon barrier levels: | $24.762 for NIO, $614.916 for Tesla; 60% of initial levels
|
Downside threshold levels: | $24.762 for NIO, $614.916 for Tesla; 60% of initial levels
|
Pricing date: | Oct. 25, 2021
|
Settlement date: | Oct. 28, 2021
|
Agent: | Barclays
|
Selected dealer: | Morgan Stanley Wealth Management
|
Fees: | 2.5%
|
Cusip: | 06747Y787
|
|
© 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.