Published on 6/30/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.55 million callable contingent coupon notes on indexes, ETF
Chicago, June 30 – Barclays Bank plc priced $3.55 million of callable contingent coupon notes due Dec. 20, 2024 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 9.4% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly call date after six months.
If the notes are not redeemed early and the worst performer finishes at or above its 60% final barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Russell 2000 index, Nasdaq-100 index and SPDR S&P Regional Banking ETF
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| Amount: | $3,549,000
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| Maturity: | Dec. 20, 2024
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| Contingent coupon: | 9.4% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above final barrier, par; otherwise, loss of 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | In whole at par plus any coupon due on any monthly call date after six months
|
| Initial levels: | 2,173.93 Russell, 15,801.46 for Nasdaq, $68.35 for ETF
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| Coupon barriers: | 1,521.75 Russell, 11,061.02 for Nasdaq, $47.85 for ETF; 70% of initial levels
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| Final barrier levels: | 1,304.36 Russell, 9,480.88 for Nasdaq, $41.01 for ETF; 60% of initial levels
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| Pricing date: | Dec. 17, 2021
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| Settlement date: | Dec. 22, 2021
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| Agent: | Barclays
|
| Fees: | 3%
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| Cusip: | 06748WXX6
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