Published on 2/1/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $18.34 million Accelerated Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Barclays Bank plc priced $18.34 million of 0% Accelerated Return Notes due March 31, 2023 linked to an international equity basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei Stock Average index each with an initial weight of 20%, the Swiss Market index and the S&P/ASX 200 index each with an initial weight of 7.5% and the FTSE China 50 index with an initial weight of 5%.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum payout of par plus 16%. Investors will be exposed to any index decline.
BofA Securities, Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Accelerated Return Notes
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Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight), FTSE China 50 (5% weight)
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Amount: | $18,339,400
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Maturity: | March 31, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at par plus 16%; exposure to any index decline
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Initial index levels: | 4,184.97 for Stoxx, 7,554.34 for FTSE, 26,170.3 for Nikkei, 12,176.9 for Swiss, 6,838.282 for S&P/ASX, 16,394.62 for FTSE China 50
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Final index level: | Average of index’s closing levels on five trading days ending March 28, 2023
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Pricing date: | Jan. 27
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Settlement date: | Feb. 3
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 06748A697
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