Published on 6/21/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $520,000 autocallable fixed-coupon notes on Norwegian
By Kiku Steinfeld
Chicago, June 21 – Barclays Bank plc priced $520,000 of 12.6% autocallable fixed-coupon notes due Dec. 6, 2022 linked to the common stock of Norwegian Cruise Line Holdings Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if the stock closes at or above its initial level on the May or August of 2022 call dates.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 70% of its initial level, in which cases investors will lose 1% for each 1% loss of the stock, payable either in shares or the cash equivalent at the issuer’s option.
Barclay is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable fixed-coupon notes
|
| Underlying stock: | Norwegian Cruise Line Holdings Ltd.
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| Amount: | $520,000
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| Maturity: | Dec. 6, 2022
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| Coupon: | 12.6%, payable monthly
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| Price: | Par of $10,000
|
| Call: | At par if stock closes at or above initial level on May or August of 2022 call dates
|
| Payout at maturity: | Par unless stock finishes below barrier level, in which case 512.55766 shares or cash at issuer’s option
|
| Initial level: | $19.51
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| Barrier level: | $13.66, 70% of initial level
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| Pricing date: | Nov. 30, 2021
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| Settlement date: | Dec. 3, 2021
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| Agent: | Barclays
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| Fees: | 1%
|
| Cusip: | 06741WN55
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