Published on 11/30/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.25 million autocallable fixed coupon notes on three stocks
Chicago, Nov. 30 – Barclays Bank plc priced $2.25 million of 8.75% autocallable fixed coupon notes due Nov. 28, 2025 linked to the least performing of the common stocks of UnitedHealth Group Inc., Home Depot, Inc. and Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any monthly review date after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 55% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level, payable in shares or cash at the issuer’s option.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable fixed coupon notes
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Underlying stocks: | UnitedHealth Group Inc., Home Depot, Inc. and Chevron Corp.
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Amount: | $2,250,000
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Maturity: | Nov. 28, 2025
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Coupon: | 8.75% per annum, paid monthly
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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, payable in shares or cash at the issuer’s option
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Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly review date after six months
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Initial levels: | $543.76 for United, $309.20 for Home Depot, $144.33 for Chevron
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Trigger levels: | $299.07 for United, $170.06 for Home Depot, $79.38 for Chevron; 55% of initial levels
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Physical delivery amounts: | 1.83905 for United, 3.23415 for Home Depot, 6.92857 for Chevron
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Pricing date: | Nov. 22
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Settlement date: | Nov. 28
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Agent: | Barclays
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Fees: | 3%
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Cusip: | 06744EBJ5
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