Published on 12/31/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.44 million buffered autocallable contingent coupon notes on index, ETF
By William Gullotti
Buffalo, N.Y., Dec. 31 – Barclays Bank plc priced $5.44 million of buffered autocallable contingent coupon notes due Dec. 29, 2023 linked to the least performing of the ARK Innovation ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at a 6.88% annualized rate if each underlier closes at or above its 75% coupon barrier value on the related observation date.
The notes will be callable at par plus coupon if the each underlier closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par if each underlier finishes at or above 75% of initial level, otherwise investors will lose 1% for each 1% decline of that asset beyond 25%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable contingent coupon notes
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Underlying assets: | ARK Innovation ETF, S&P 500 index
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Amount: | $5,441,000
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Maturity: | Dec. 29, 2023
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Contingent coupon: | 6.88% annual rate, payable quarterly if each underlier closes at or above coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par unless an underlier finishes below buffer level; in which case 1% loss for each 1% decline of the worst performer beyond the buffer
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Call: | At par plus coupon if each underlier closes at or above initial level on any quarterly observation date after six months
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Initial levels: | $99.07 for ETF, 4,725.79 for S&P
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Coupon barrier levels: | $74.30 for ETF, 3,547.31 for S&P; 75% of initial levels
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Buffer levels: | $74.30 for ETF, 3,547.31 for S&P; 75% of initial levels
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Pricing date: | Dec. 23
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Settlement date: | Dec. 29
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Agent: | Barclays
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Fees: | 2.65%
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Cusip: | 06748WYL1
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