Published on 3/6/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $715,000 autocallable contingent coupon notes on three stocks
Chicago, March 8 – Barclays Bank plc priced $715,000 of autocallable contingent coupon notes due Jan. 27, 2022 linked to the least performing of the common stocks of Boeing Co., Tesla, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 14.75% if each stock closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter. Previously unpaid coupons will also be paid.
The notes will be called at par plus any coupon due if each stock finishes above 70% of its initial level on any quarterly call valuation date.
The payout at maturity will be par unless the final level of the least performing stock is less than its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Boeing Co., Tesla, Inc. and Wells Fargo & Co.
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| Amount: | $715,000
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| Maturity: | Jan. 27, 2022
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| Contingent coupon: | 14.75% per year, payable quarterly if each stock closes at or above barrier level on observation date for that quarter; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par unless final level of least performing stock is less than barrier level, in which case 1% loss for each 1% decline of least performing stock
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| Call option: | At par plus any coupon due if all stocks finish above 70% of initial levels on any quarterly call valuation date
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| Initial stock levels: | $148.02 for Boeing, $595.32 for Tesla and $22.72 for Wells Fargo
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| Call levels: | 70% of initial levels
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| Coupon barrier levels: | $126.87 for Boeing, $510.27 for Tesla and $19.48 for Wells Fargo; 60% of initial levels
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| Barrier levels: | $126.87 for Boeing, $510.27 for Tesla and $19.48 for Wells Fargo; 60% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 27
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| Agent: | Barclays
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| Fees: | 2.25%
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| Cusip: | 06747QYN1
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