Published on 1/28/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million phoenix autocallable notes on Nasdaq, Russell, Dow
Chicago, Jan. 29 – Barclays Bank plc priced $1 million of phoenix autocallable notes due July 24, 2025 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9% if each index closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly call observation date after three months.
The payout at maturity will be par unless any index finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,000,000
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| Maturity: | July 24, 2025
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| Coupon: | 9% annualized, payable monthly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing index from its initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly call observation date after three months
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| Initial levels: | 37,863.80 for Dow, 1,944.391 for Russell, 17,314 for Nasdaq
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| Coupon barriers: | 26,504.66 for Dow, 1,361.07 for Russell, 12,119.80 for Nasdaq; 70% of initial levels
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| Final barriers: | 26,504.66 for Dow, 1,361.07 for Russell, 12,119.80 for Nasdaq; 70% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | Barclays
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| Fees: | 0.45%
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| Cusip: | 06745PLE9
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