Published on 6/2/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $249,000 autocallable contingent coupon notes on ChargePoint
Chicago, June 2 – Barclays Bank plc priced $249,000 of autocallable contingent coupon notes due Nov. 19, 2024 linked to the common stock of ChargePoint Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a 17.3% annualized rate if the stock closes at or above its 60% coupon barrier value on the related observation date. Previously unpaid coupons will also be paid.
The notes will be called at par if the stock closes at or above its initial share price on any quarterly call date.
The payout at maturity will be par unless the stock finishes below 60% of its initial share price, in which case investors will lose 1% for each 1% decline from the initial level, payable in shares or cash at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
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| Underlying stock: | ChargePoint Holdings, Inc.
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| Amount: | $249,000
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| Maturity: | Nov. 19, 2024
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| Contingent coupon: | 17.3% per year, payable quarterly if stock closes at or above coupon barrier level on related observation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below barrier level, in which case 1% loss for each 1% decline from initial level, payable in 37.13331 shares or cash at issuer’s option
|
| Call: | At par if stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $26.93
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| Coupon barrier level: | $16.16, 60% of initial share price
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| Barrier level: | $16.16, 60% of initial share price
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| Pricing date: | Nov. 16, 2021
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| Settlement date: | Nov. 19, 2021
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| Agent: | Barclays
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| Fees: | 2.5%
|
| Cusip: | 06741WM49
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