Published on 3/8/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.06 million 6.45% buffered fixed-coupon autocalls on three indexes
By William Gullotti
Buffalo, N.Y., March 8 – Barclays Bank plc priced $3.06 million of buffered autocallable fixed-coupon notes due Dec. 8, 2022 linked to the Swiss Market index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 6.45%.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any monthly valuation date after six months.
If the notes are not called and each index finishes at or above 82% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1.219512% for each 1% decline of the least-performing index beyond the 18% buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable fixed-coupon notes
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| Underlying indexes: | Euro Stoxx 50 index, S&P 500 index, Swiss Market index
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| Amount: | $3.06 million
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| Maturity: | Dec. 8, 2022
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| Coupon: | 6.45% annually, paid monthly
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below buffer level, in which case 1.219512% loss for each 1% decline of the least-performing index beyond 18%
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| Call: | At par plus coupon if each index closes at or above initial level on any monthly valuation date after six months
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| Initial levels: | 3,820.59 for Stoxx, 4,386.54 for S&P, 11,871.59 for Swiss
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| Buffer levels: | 3,132.88 for Stoxx, 3,596.96 for S&P, 9,734.7 for Swiss; 82% of initial level
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| Strike date: | March 2
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| Pricing date: | March 4
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| Settlement date: | March 8
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| Agent: | Barclays
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| Fees: | 1.6%
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| Cusip: | 06748XKB6
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