Published on 2/1/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.8 million buffered autocallable contingent coupon notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Feb. 1 – Barclays Bank plc priced $1.8 million of buffered autocallable contingent coupon notes due Feb. 1, 2027 linked to the least performing of the iShares MSCI Emerging Markets ETF, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of at a 5.85% annualized rate if each underlier closes at or above its 70% 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 monthly observation date after six months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above 70% of initial level, otherwise investors will lose 1% for each 1% decline of that asset beyond 30%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable contingent coupon notes
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Underlying assets: | iShares MSCI Emerging Markets ETF, Nasdaq-100 index, Dow Jones industrial average
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Amount: | $1.8 million
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Maturity: | Feb. 1, 2027
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Contingent coupon: | 5.85% annual rate, payable monthly 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 plus final coupon 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 monthly observation date after six months
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Initial levels: | $47.06 for ETF, 34,160.78 for Dow, 14,003.11 for Nasdaq
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Coupon barrier levels: | $32.94 for ETF, 23,912.55 for Dow, 9,802.18 for Nasdaq; 70% of initial levels
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Buffer levels: | $32.94 for ETF, 23,912.55 for Dow, 9,802.18 for Nasdaq; 70% of initial levels
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Pricing date: | Jan. 27
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Settlement date: | Feb. 1
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Agent: | Barclays
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Fees: | 0.6%
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Cusip: | 06748XBH3
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