Published on 5/7/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $13.34 million market-linked autocallables on indexes
Chicago, May 7 – Barclays Bank plc priced $13.34 million of 0% market-linked securities – autocallable with contingent downside due May 4, 2027 linked to the lowest performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 9.5% annualized call premium if all three indexes close above their starting levels on quarterly call dates starting after one year.
The maturity date premium is 28.5%.
If the notes are not called and each index finishes at or above its 50% downside threshold, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $13,337,000
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| Maturity: | May 4, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If called, par plus 28.5%; if not called and if each index finishes at or above downside threshold, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus 9.5% annualized call premium if all three indexes close above starting levels on quarterly call dates starting after one year
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| Initial levels: | 38,386.09 for Dow, 17,782.72 for Nasdaq, 2,016.027 for Russell
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| Downside threshold levels: | 19,193.045 for Dow, 8,891.36 for Nasdaq, 1,008.0135 for Russell, 50% of initial levels
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| Pricing date: | April 29
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| Settlement date: | May 2
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| Agents: | Wells Fargo Securities, LLC and Barclays Capital Inc.
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| Fees: | 2.575%
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| Cusip: | 06745QM22
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