Published on 6/24/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7.89 million callable contingent coupon notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., June 24 – Barclays Bank plc priced $7.89 million of callable contingent coupon notes due May 15, 2024 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 10% 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 quarterly call date.
If the notes are not redeemed early, the payout at maturity will be par unless any underlier finishes below its 70% final barrier level, in which case investors will be fully exposed to the decline of the least performing underlier from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Russell 2000 index, Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $7,894,000
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| Maturity: | May 15, 2024
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| Contingent coupon: | 10% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlier finishes below its final barrier level, in which case full exposure to decline of least performing underlier
|
| Call option: | In whole at par plus any coupon due on any quarterly call date
|
| Initial levels: | $54.69 for ETF, 2,271.63 for Russell, 4,034.25 for Stoxx
|
| Coupon barriers: | $38.38 for ETF, 1,590.14 for Russell, 2,823.98 for Stoxx; 70% of initial levels
|
| Final barrier levels: | $38.38 for ETF, 1,590.14 for Russell, 2,823.98 for Stoxx; 70% of initial levels
|
| Pricing date: | May 10
|
| Settlement date: | May 13
|
| Agent: | Barclays
|
| Fees: | 0.4%
|
| Cusip: | 06748EQN6
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