Published on 2/22/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.46 million buffered autocallable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – Barclays Bank plc priced $4.46 million of buffered autocallable contingent coupon notes due Feb. 22, 2024 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 8.15% if each index closes at or above its 70% coupon barrier level on the determination date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date after six months.
The payout at maturity will be par unless any index finishes below 85% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 and Nasdaq-100
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| Amount: | $4,455,000
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| Maturity: | Feb. 22, 2024
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| Contingent coupon: | 8.15% per year, payable monthly if each component closes at or above coupon barrier level on the determination date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below buffer level, in which case investors will lose 1% for each 1% decline of the worse performing index beyond 15%
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly determination date after six months
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| Initial index levels: | 34,934.27 for Dow, 14,603.64 for Nasdaq, 2,079.31 for Russell
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| Buffer levels: | 29,694.13 for Dow, 12,413.09 for Nasdaq, 1,767.41 for Russell; 85% of initial levels
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| Coupon barrier levels: | 24,453.99 for Dow, 10,222.55 for Nasdaq, 1,455.52 for Russell; 70% of initial levels
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 22
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| Agent: | Barclays
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| Fees: | 0.65%
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| Cusip: | 06748XER8
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