Published on 8/12/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.01 million buffered callable contingent coupon notes on indexes
Chicago, Aug. 12 – Barclays Bank plc priced $2.01 million of buffered callable contingent coupon notes due Dec. 27, 2024 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 7.8% if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that period.
The notes will be callable in whole at par on any quarterly call valuation date.
If each index finishes at or above its buffer level, 80% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the least-performing index beyond the buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered callable contingent coupon notes
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| Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100
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| Amount: | $2,013,000
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| Maturity: | Dec. 27, 2024
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| Contingent coupon: | 7.8% per year, payable each quarter that each index closes at or above coupon barrier level observation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above buffer level, par; otherwise, full to losses of least-performing index beyond buffer
|
| Call: | At par on any quarterly call valuation date at option of issuer
|
| Initial index levels: | 15,986.28 for Nasdaq, 4,649.23 for S&P, 2,202.95 for Russell
|
| Coupon barrier levels: | 12,789.02 for Nasdaq, 3,719.38 for S&P, 1,762.36 for Russell; 80% of initial levels
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| Buffer levels: | 12,789.02 for Nasdaq, 3,719.38 for S&P, 1,762.36 for Russell; 80% of initial levels
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| Pricing date: | Dec. 21, 2021
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| Settlement date: | Dec. 27, 2021
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| Agent: | Barclays
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| Fees: | 0.85%
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| Cusip: | 06748WYC1
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