Published on 5/11/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.64 million 11.1% autocallable fixed coupon notes on three indexes
By William Gullotti
Buffalo, N.Y., May 11 – Barclays Bank plc priced $1.64 million of 11.1% autocallable fixed coupon notes due May 9, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any monthly review date after three months.
The payout at maturity will be par plus the final coupon unless any index finishes below its 70% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable fixed coupon notes
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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Amount: | $1,644,000
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Maturity: | May 9, 2024
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Coupon: | 11.1% per annum, paid monthly
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Price: | Par
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Payout at maturity: | Par plus any coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of least performing index from initial level
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Call: | Automatically at par plus coupon if each index closes at or above initial level on any monthly review date after three months
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Initial levels: | 4,136.25 for S&P, 13,259.13 for Nasdaq, 1,759.879 for Russell
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Trigger levels: | 2,895.38 for S&P, 9,281.39 for Nasdaq, 1,231.92 for Russell; 70% of initial levels
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Pricing date: | May 5
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Settlement date: | May 10
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Agent: | Barclays
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Fees: | 0.2%
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Cusip: | 06745MCJ5
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