Published on 6/17/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.29 million phoenix autocallables on index, ETF, stock
By Kiku Steinfeld
Chicago, June 17 – Barclays Bank plc priced $4.29 million of phoenix autocallable notes due June 13, 2024 linked to the least performing of the iShares Russell 2000 ETF, the Nasdaq-100 index and the Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any observation date after six months other than the final date.
The payout at maturity will be par unless any underlying asset finishes below its 55% trigger level, in which case investors will be exposed to any losses of the worst performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
|
| Underlying assets: | iShares Russell 2000 ETF, Nasdaq-100 index, Boeing Co.
|
| Amount: | $4,291,000
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| Maturity: | June 13, 2024
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| Coupon: | 10% annualized, payable monthly if each asset closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below trigger level, in which case 1% loss per 1% decline of the worst performing asset
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any observation date after six months other than final date
|
| Initial levels: | 13,810.86 for Nasdaq, $232.89 for ETF, $252.76 for Boeing
|
| Coupon barrier levels: | 9,667.60 for Nasdaq, $163.02 for ETF, $176.93 for Boeing; 70% of initial levels
|
| Trigger levels: | 7,595.97 for Nasdaq, $128.09 for ETF, $139.02 for Boeing; 55% of initial levels
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| Pricing date: | June 8
|
| Settlement date: | June 11
|
| Agent: | Barclays
|
| Fees: | 0.75%
|
| Cusip: | 06748EW90
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