Published on 5/27/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $610,000 buffered autocallable contingent coupon notes on indexes
Chicago, May 27 – Barclays Bank plc priced $610,000 of buffered autocallable contingent coupon notes due Nov. 14, 2023 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 4.5% if each index closes at or above its 85% coupon barrier level on the determination date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par unless any index finishes below 85% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 and Nasdaq-100
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| Amount: | $610,000
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| Maturity: | Nov. 14, 2023
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| Contingent coupon: | 4.5% per year, payable quarterly if each index closes at or above coupon barrier level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below buffer level, in which case investors will lose 1% for each 1% decline of the worse performing index beyond 15%
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly determination date after six months
|
| Initial index levels: | 16,219.94 for Nasdaq, 2,427.29 for Russell
|
| Buffer levels: | 13,786.95 for Nasdaq, 2,063.20 for Russell; 85% of initial levels
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| Coupon barrier levels: | 13,786.95 for Nasdaq, 2,063.20 for Russell; 85% of initial levels
|
| Pricing date: | Nov. 9, 2021
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| Settlement date: | Nov. 12, 2021
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 06748WS87
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