Published on 9/27/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $504,000 phoenix autocallable notes linked to four stocks
Chicago, Sept. 27 – Barclays Bank plc priced $504,000 of phoenix autocallable notes due Feb. 6, 2025 linked to the least performing of the common stocks of Alphabet Inc., Meta Platforms, Inc., FedEx Corp. and Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 14% if each stock closes at or above its 60% 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 monthly observation date after six months.
The payout at maturity will be par plus the coupon, unless any stock finishes below 55% 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
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Alphabet Inc., Meta Platforms, Inc., FedEx Corp. and Advanced Micro Devices, Inc.
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| Amount: | $504,000
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| Maturity: | Feb. 6, 2025
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| Coupon: | 14% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any monthly observation date after six months
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| Initial levels: | $2,757.57 for Alphabet, $319 for Meta, $252 for FedEx, $116.78 for AMD
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| Coupon barrier levels: | $1,654.54 for Alphabet, $191.40 for Meta, $151.20 for FedEx, $70.07 for AMD; 60% of initial levels
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| Final barrier levels: | $1,516.66 for Alphabet, $175.45 for Meta, $138.60 for FedEx, $64.23 for AMD; 55% of initial levels
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 8
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| Agent: | Barclays
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| Fees: | 3%
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| Cusip: | 06748XEL1
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