Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $680,000 autocallable fixed coupon notes on three stocks
Chicago, Feb. 23 – Barclays Bank plc priced $680,000 of 12.4% autocallable fixed coupon notes due Jan. 31, 2025 linked to the least performing of the common stocks of Merck & Co., Inc., Hershey Co. and Danaher Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 70% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable fixed coupon notes
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Underlying stocks: | Merck & Co., Inc., Hershey Co. and Danaher Corp.
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Amount: | $680,000
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Maturity: | Jan. 31, 2025
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Coupon: | 12.4% per annum, paid quarterly
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Price: | Par
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Payout at maturity: | Par plus any coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of least performing stock from initial level
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Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly review date after six months
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Initial levels: | $118.63 for Merck, $190.64 for Hershey, $225.24 for Danaher
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Trigger levels: | $83.04 for Merck, $133.45 for Hershey, $157.67 for Danaher; 70% of initial levels
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Pricing date: | Jan. 16
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Settlement date: | Jan. 24
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06745PLB5
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