Published on 10/26/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 of 9.8% autocallable fixed-coupon notes on three stocks
By Kiku Steinfeld
Chicago, Oct. 26 – Barclays Bank plc priced $500,000 of 9.8% autocallable fixed-coupon notes due April 17, 2023 linked to the common stocks of PayPal Holdings, Inc., Zoom Video Communications, Inc. and Pinterest, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be automatically called at par plus the coupon if the least-performing stock closes at or above 100% of its initial price on any semiannual call observation date.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any stock finishes below the 50% trigger price, in which case investors will be exposed to all losses, payable in shares or cash at the option of the issuer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stocks: | PayPal Holdings, Inc., Zoom Video Communications, Inc. and Pinterest, Inc.
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| Amount: | $500,000
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| Maturity: | April 17, 2023
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| Coupon: | 9.8%, payable semiannually
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| Price: | Par
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| Call: | At par plus the coupon if all stocks close at or above 100% of their initial prices on any semiannual call observation date
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| Payout at maturity: | Par unless any stock finishes below the trigger price, in which case exposure to all losses, payable in shares or cash at option of issuer
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| Initial prices: | $255.85 for PayPal, $255.49 for Zoom, $51.41 for Pinterest
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| Trigger prices: | $127.93 for PayPal, $127.75 for Zoom, $25.71 for Pinterest, 50% of initial levels
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| Equity ratios: | 3.90854 for PayPal, 3.91405 for Zoom, 3.45147 for Pinterest
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 18
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| Agent: | Barclays
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| Fees: | 1%
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| Cusip: | 06741WJ50
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