Published on 8/14/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $444,000 phoenix autocallable notes on two stocks
By Kiku Steinfeld
Chicago, Aug. 15 – Barclays Bank plc priced $444,000 of phoenix autocallable notes due Jan. 17, 2025 linked to the least performing of Mosaic Co. and Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.35% if each stock closes at or above its 65% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any stock finishes below 65% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Mosaic Co. and Exxon Mobil Corp.
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| Amount: | $444,000
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| Maturity: | Jan. 17, 2025
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| Coupon: | 12.35% annualized, payable quarterly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $43.23 for Mosaic, $71.87 for Exxon
|
| Coupon barriers: | $28.10 for Mosaic, $46.72 for Exxon; 65% of initial levels
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| Final barriers: | $28.10 for Mosaic, $46.72 for Exxon; 65% of initial levels
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
|
| Agent: | Barclays
|
| Fees: | 2.75%
|
| Cusip: | 06748X4C2
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