Published on 6/28/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $6.22 million contingent coupon notes on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., June 28 – Barclays Bank plc priced $6.22 million of contingent coupon notes due June 29, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 13.05% if each index closes at or above its coupon barrier level, 90% of its initial level, on the related quarterly observation date.
If each index finishes at or above its 90% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Contingent coupon notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $6,220,000
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Maturity: | June 29, 2022
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Contingent coupon: | 13.05% per year, payable quarterly if each index closes at or above coupon barrier on related quarterly observation date
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index from its initial level
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Initial levels: | 4,224.79 for S&P, 2,286.1 for Russell, 14,137.23 for Nasdaq
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Coupon barriers: | 3,802.31 for S&P, 2,057.49 for Russell, 12,723.51 for Nasdaq; 90% of initial levels
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Barrier levels: | 3,802.31 for S&P, 2,057.49 for Russell, 12,723.51 for Nasdaq; 90% of initial levels
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Strike date: | June 21
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | Barclays
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Fees: | 0.2%
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Cusip: | 06748EYM9
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