Published on 3/14/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.28 million market-linked autocalls with buffered downside on stocks
By William Gullotti
Buffalo, N.Y., March 14 – Barclays Bank plc priced $1.28 million of market-linked securities – autocallable with fixed percentage buffered downside due March 4, 2027 linked to the stock performance of Ameren Corp., FirstEnergy Corp. and NextEra Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 20.5% annualized call premium if each stock closes at or above its initial level on any semiannual observation date after one year.
If each stock finishes at or above initial level, the payout at maturity will be par plus 61.5%.
Investors will receive par if the worst performer declines by no more than 10% and lose 1% for every 1% decline of the worst performer beyond 10%.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Market linked securities – autocallable with fixed percentage buffered downside
|
| Underlying stocks: | Ameren Corp., FirstEnergy Corp., NextEra Energy, Inc.
|
| Amount: | $1,275,000
|
| Maturity: | March 4, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above initial level, par plus 61.5%; if worst performer declines up to 10%, par; otherwise, lose 1% for every 1% decline of worst performer beyond 10%
|
| Call: | At plus a 20.5% annualized call premium if each stock closes at or above its initial level on any semiannual observation date after one year
|
| Initial levels: | $71.19 for Ameren, $36.61 for FirstEnergy, $55.19 for NextEra
|
| Downside thresholds: | $64.071 for Ameren, $32.949 for FirstEnergy, $49.671 for NextEra; 90% of initial levels
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 5
|
| Agents: | Wells Fargo Securities, LLC and Barclays Capital Inc.
|
| Fees: | 2.575%
|
| Cusip: | 06745Q2Y4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
