Published on 7/27/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.61 million autocallable contingent coupon notes on tech stocks
By Kiku Steinfeld
Chicago, July 27 – Barclays Bank plc priced $6.61 million of autocallable contingent coupon notes due July 19, 2024 linked to the least performing of the common stocks of Apple Inc., Amazon.com, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 11.6% if each stock closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par if each stock finishes above its initial level on any quarterly call valuation date after six months.
The payout at maturity will be par unless the final level of the least performing stock is less than its 65% barrier level, in which case investors will lose 1% for each 1% decline of the least performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Apple Inc., Amazon.com, Inc. and Netflix, Inc.
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| Amount: | $6,609,000
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| Maturity: | July 19, 2024
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| Contingent coupon: | 11.6% per year, payable quarterly if each stock closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless final level of least performing stock is less than barrier level, in which case 1% loss for each 1% decline of least performing stock
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| Call: | At par if all stocks finish above their initial levels on any quarterly call valuation date after six months
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| Initial stock levels: | $146.39 for Apple, $3,573.63 for Amazon and $530.31 for Netflix
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| Coupon barrier levels: | $95.15 for Apple, $2,322.86 for Amazon and $344.70 for Netflix; 65% of initial levels
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| Barrier levels: | $95.15 for Apple, $2,322.86 for Amazon and $344.70 for Netflix; 65% of initial levels
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| Pricing date: | July 16
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| Settlement date: | July 21
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| Agent: | Barclays
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| Fees: | 0.35%
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| Cusip: | 06748W4R1
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