Published on 3/1/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $600,000 autocallable contingent coupon notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, March 1 – Barclays Bank plc priced $600,000 of autocallable contingent coupon notes due March 15, 2023 linked to the least performing of the Russell 2000 index, the Nasdaq-100 and the S&P 500 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 7.25% if each index closes at or above its coupon barrier level, 80% of its initial level, on the review date for that period. Payments will include any previously unpaid coupons for prior quarters.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call date beginning in March 2022.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% trigger value, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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| Amount: | $600,000
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| Maturity: | March 15, 2023
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| Coupon: | 7.25% annual rate, payable monthly if each index closes at or above coupon barrier level on review date for that period, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below its trigger value, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly call date beginning in March 2022
|
| Initial levels: | 4,458.58 for S&P, 2,227.55 for Russell, 15,440.75 for Nasdaq
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| Coupon barrier: | 3,566.86 for S&P, 1,782.04 for Russell, 12,352.60 for Nasdaq; 80% of initial levels
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| Trigger levels: | 3,121.01 for S&P, 1,559.29 for Russell, 10,808.53 for Nasdaq; 70% of initial levels
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| Pricing date: | Sept. 10
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| Settlement date: | Sept. 15
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| Agent: | Barclays
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| Fees: | 0.3%
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| Cusip: | 06748WH48
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