Published on 2/1/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $715,000 17% autocallable fixed-coupon notes on stocks
By Kiku Steinfeld
Chicago, Feb. 1 – Barclays Bank plc priced $715,000 of 17% autocallable fixed-coupon notes due Nov. 5, 2026 linked to the least performing of the common stocks of Ford Motor Co., Netflix, Inc. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the least-performing stock closes at or above 100% of its initial price on any monthly call observation date after one year.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any stock finishes below the 50% barrier price, in which case investors will be exposed to all losses, payable in shares or cash at the option of the issuer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stocks: | Ford Motor Co., Netflix, Inc. and Boeing Co.
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| Amount: | $715,000
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| Maturity: | Nov. 5, 2026
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| Coupon: | 17%, payable monthly
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| Price: | Par
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| Call: | At par plus the coupon if all stocks close at or above 100% of their initial prices on any monthly call observation date after one year
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| Payout at maturity: | Par unless any stock finishes below the barrier price, in which case exposure to all losses, payable in shares or cash at option of issuer
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| Initial prices: | $286.75 for Netflix, $143.38 for Boeing, $13.40 for Ford
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| Barrier prices: | $143.38 for Netflix, $71.69 for Boeing, $6.70 for Ford, 50% of initial levels
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| Equity ratios: | 3.48736 for Netflix, 6.97447 for Boeing, 74.62687 for Ford
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| Pricing date: | Nov. 2, 2022
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| Settlement date: | Nov. 7, 2022
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| Agent: | Barclays
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| Fees: | 0.5%
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| Cusip: | 06741WXW5
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