Published on 6/18/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.87 million phoenix autocallable notes on Peloton
By Wendy Van Sickle
Columbus, Ohio, June 18 – Barclays Bank plc priced $2.87 million of phoenix autocallable notes due July 14, 2022 linked to the common stock of Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12.5% if the stock closes at or above its 58% coupon barrier on a related observation date.
The notes will be called at par if the stock closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par unless the stock finishes below 58% of its initial value in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying stock: | Peloton Interactive, Inc.
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Amount: | $2,873,000
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Maturity: | July 14, 2022
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Coupon: | 12.5% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
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Price: | Par
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Call: | Automatically at par if stock closes at or above initial level on any monthly call observation date after six months
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Payout at maturity: | Par unless stock finishes below final barrier, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price – 8.84017 shares – or cash equivalent
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Initial level: | $113.12
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Coupon barrier level: | $65.61, 58% of initial level
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Final barrier level: | $65.61, 58% of initial level
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Pricing date: | June 11
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Settlement date: | June 16
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Agent: | Barclays
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Fees: | 2.15%
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Cusip: | 06741WVU1
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