Published on 9/27/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $627,000 callable contingent coupon notes on Russell, Nasdaq, Banking ETF
By Kiku Steinfeld
Chicago, Sept. 27 – Barclays Bank plc priced $627,000 of callable contingent coupon notes due Sept. 19, 2024 linked to the worst performing of the SPDR S&P Regional Banking ETF, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 11.15% if each asset 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 valuation date after three months.
If the notes are not redeemed early, the payout will be par unless any asset finishes below 60% of its initial level, in which case investors will lose 1% for every 1% that the least performing asset declines.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying assets: | Russell 2000 index, Nasdaq-100 index and SPDR S&P Regional Banking ETF
|
Amount: | $627,000
|
Maturity: | Sept. 19, 2024
|
Contingent coupon: | 11.15% per year, payable monthly if each asset closes at or above coupon barrier related observation date
|
Price: | Par
|
Payout at maturity: | Par unless any asset finishes below its final barrier level, in which case investors will lose 1% for every 1% that the least performing asset declines
|
Call option: | In whole at par plus any coupon due on any monthly valuation date after three months
|
Initial levels: | $63.91 for ETF, 2,234.45 for Russell, 15,503.53 for Nasdaq
|
Coupon barrier levels: | $44.74 for ETF, 1,564.11 for Russell, 10,852.47 for Nasdaq; 70% of initial levels
|
Trigger buffer levels: | $38.35 for ETF, 1,340.67 for Russell, 9,302.12 for Nasdaq; 60% of initial levels
|
Pricing date: | Sept. 15
|
Settlement date: | Sept. 20
|
Agent: | Barclays
|
Fees: | 1%
|
Cusip: | 06748WHK2
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.