Published on 9/20/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.28 million phoenix autocallable notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Sept. 20 – Barclays Bank plc priced $5.28 million of phoenix autocallable notes due Sept. 18, 2024 linked to the least performing of the SPDR S&P Regional Banking ETF, 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 monthly coupon at an annual rate of 7.5% if each underlier closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its call level, 95% of initial level, on any monthly call observation date after six months.
The payout at maturity will be par plus the final coupon unless any underlier finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying assets: | SPDR S&P Regional Banking ETF, Russell 2000 index, Nasdaq-100 index
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Amount: | $5,281,000
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Maturity: | Sept. 18, 2024
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Coupon: | 7.5% annualized, payable monthly if each underlier closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any underlier finishes below final barrier, in which case 1% loss for each 1% decline of the worst performer
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above its 95% call level on any monthly call observation date after six months
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Initial levels: | 15,382.9 for Nasdaq, 2,209.98 for Russell, $62.88 for ETF
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Call levels: | 14,613.76 for Nasdaq, 2,099.49 for Russell, $59.74 for ETF; 95% of initial levels
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Coupon barriers: | 10,768.03 for Nasdaq, 1,546.99 for Russell, $44.02 for ETF; 70% of initial levels
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Final barriers: | 10,768.03 for Nasdaq, 1,546.99 for Russell, $44.02 for ETF; 70% of initial levels
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Pricing date: | Sept. 14
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Settlement date: | Sept. 17
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Agent: | Barclays
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Fees: | 3%
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Cusip: | 06748WHE6
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