Published on 8/7/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $9.46 million autocallable contingent coupon notes on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – Barclays Bank plc priced $9.46 million of autocallable contingent coupon notes due Aug. 7, 2028 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.
The notes will pay a contingent monthly coupon of at a 7% annualized rate if each index closes at or above its 80% coupon barrier value on the related observation date.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any monthly call observation date after one year.
The payout at maturity will be par plus any coupon otherwise due.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable contingent coupon notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $9,455,000
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Maturity: | Aug. 7, 2028
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Contingent coupon: | 7% annual rate, payable monthly if each index closes at or above coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par plus any coupon due
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Call: | At par plus coupon if each index closes at or above initial level on any monthly observation date after one year
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Initial levels: | 4,513.39 for S&P, 1,966.832 for Russell, 15,370.74 for Nasdaq
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Coupon barrier levels: | 3,610.71 for S&P, 1,573.47 for Russell, 12,296.59 for Nasdaq; 80% of initial levels
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Pricing date: | Aug. 2
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Settlement date: | Aug. 7
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Agent: | Barclays
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Fees: | 0.7%
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Cusip: | 06745MWL8
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