Published on 3/23/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $620,000 autocallable notes on three stocks
By Kiku Steinfeld
Chicago, March 23 – Barclays Bank plc priced $620,000 of autocallable notes due Sept. 20, 2023 linked to the least performing stock of the common stocks of Wynn Resorts, Ltd., Palantir Technologies Inc. and the American Depositary Shares of DiDi Global Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 17.75% if each stock closes above its coupon barrier level, 60% of its initial level, on any related observation date.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called, investors will receive par if each stock finishes above its 50% final barrier level and will be fully exposed to the decline of the worst performing stock otherwise.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable notes
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| Underlying assets: | Wynn Resorts, Ltd., Palantir Technologies Inc. and DiDi Global Inc.
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| Amount: | $620,000
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| Maturity: | Sept. 20, 2023
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| Coupon: | 17.75%, payable quarterly if each stock closes above coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless final level of the least-performing stock is less than 50% final barrier level, in which case 1% loss for each 1% decline of the least-performing stock
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| Call: | At par if each stock closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $86.44 for Wynn, $27.08 for Palantir, $8.28 for DiDi
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| Coupon barrier levels: | $51.86 for Wynn, $16.25 for Palantir, $4.97 for DiDi, 60% of initial levels
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| Final barrier levels: | $43.22 for Wynn, $13.54 for Palantir, $4.14 for DiDi, 50% of initial levels
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 23
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| Agent: | Barclays
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| Fees: | 1.55%
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| Cusip: | 06748WHW6
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