Published on 7/9/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.5 million phoenix autocallable notes on Blink Charging, NIO
By William Gullotti
Buffalo, N.Y., July 9 – Barclays Bank plc priced $1.5 million of phoenix autocallable notes due July 7, 2023 linked to least performing of the common stock of Blink Charging Co. and the American Depositary Shares of NIO Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 13% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if each stock closes at or above its call level, 80% of initial level, on any monthly call observation date after three months.
The payout at maturity will be par unless any stock finishes below 50% of its initial value in which case investors will be fully exposed to the loss of the least performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Blink Charging Co., NIO Inc.
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| Amount: | $1.5 million
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| Maturity: | July 7, 2023
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| Coupon: | 13% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus unless any stock finishes below final barrier, in which case full exposure to loss of least-performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above call level on any monthly call observation date after three months
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| Initial level: | $37.38 for Blink, $50.40 for NIO
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| Call level: | $29.90 for Blink, $40.32 for NIO; 80% of initial levels
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| Coupon barriers: | $22.43 for Blink, $30.24 for NIO; 60% of initial levels
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| Final barriers: | $18.69 for Blink, $25.20 for NIO; 50% of initial levels
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| Pricing date: | July 2
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| Settlement date: | July 8
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| Agent: | Barclays
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| Fees: | 3.25%
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| Cusip: | 06748EZV8
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