Published on 12/26/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million phoenix autocallable notes on two stocks
By Kiku Steinfeld
Chicago, Dec. 29 – Barclays Bank plc priced $2 million of phoenix autocallable notes due Dec. 4, 2024 linked to the least performing of ChargePoint Holdings, Inc. and Blink Charging 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 21.25% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above 80% of its 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 lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying stocks: | ChargePoint Holdings, Inc. and Blink Charging Co.
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Amount: | $2 million
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Maturity: | Dec. 4, 2024
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Coupon: | 21.25% 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 unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock
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Call: | Automatically at par plus contingent coupon if each stock closes at or above 80% of initial level on any monthly call observation date after three months
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Initial levels: | $25.52 for ChargePoint, $38.43 for Blink
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Coupon barriers: | $15.31 for ChargePoint, $23.06 for Blink; 60% of initial levels
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Final barriers: | $12.76 for ChargePoint, $19.22 for Blink; 50% of initial levels
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Pricing date: | Nov. 30
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Settlement date: | Dec. 3
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Agent: | Barclays
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Fees: | 3.5%
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Cusip: | 06748WUK7
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