Published on 8/19/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $618,000 phoenix autocallable notes on four metals securities
By William Gullotti
Buffalo, N.Y., Aug. 19 – Barclays Bank plc priced $618,000 of phoenix autocallable notes due Nov. 16, 2023 linked to least performing of the common stocks of Barrick Gold Corp., Wheaton Precious Metals Corp., Alcoa Corp. and the American Depositary Shares of BHP Group Ltd., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 18.5% if each stock closes at or above its 70% 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 initial level on any quarterly call observation date.
The payout at maturity will be par unless any stock finishes below 70% of its initial value in which case investors will be fully exposed to the loss of the least performing stock.
Barclays is agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Barrick Gold Corp., Wheaton Precious Metals Corp., Alcoa Corp., BHP Group Ltd.
|
| Amount: | $618,000
|
| Maturity: | Nov. 16, 2023
|
| Coupon: | 18.5% annualized, payable quarterly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus unless any stock finishes below final barrier, in which case full exposure to loss of least-performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $23.95 for Barrick, $44.59 for Wheaton, $41.32 for Alcoa, $80.70 for BHP
|
| Coupon barrier levels: | $16.76 for Barrick, $31.21 for Wheaton, $28.92 for Alcoa, $56.49 for BHP; 70% of initial levels
|
| Final barrier levels: | $16.76 for Barrick, $31.21 for Wheaton, $28.92 for Alcoa, $56.49 for BHP; 70% of initial levels
|
| Pricing date: | May 11
|
| Settlement date: | May 14
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06748EQP1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
