Published on 12/1/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.8 million buffered autocallable contingent coupon notes on two ETFs
By William Gullotti
Buffalo, N.Y., Dec. 1 – Barclays Bank plc priced $1.8 million of buffered autocallable contingent coupon notes due Nov. 28, 2025 linked to the least performing of the VanEck Vectors Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of at a 11.5% annualized rate if each ETF closes at or above its 75% coupon barrier value on the related observation date.
The notes will be callable at par plus coupon if each ETF closes at or above its initial level on any monthly call observation date after one year.
The payout at maturity will be par plus the final coupon if each ETF finishes at or above 75% of initial level, otherwise investors will lose 1% for each 1% decline of that asset beyond 25%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
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| Underlying funds: | VanEck Vectors Gold Miners ETF, iShares Silver Trust
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| Amount: | $1,795,000
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| Maturity: | Nov. 28, 2025
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| Contingent coupon: | 11.5% annual rate, payable monthly if each ETF closes at or above coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless an ETF finishes below buffer level; in which case 1% loss for each 1% decline of the worst performer beyond the buffer
|
| Call: | At par plus coupon if each ETF closes at or above initial level on any monthly observation date after one year
|
| Initial levels: | $28.26 for VanEck, $19.43 for iShares
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| Coupon barrier levels: | $21.20 for VanEck, $14.57 for iShares; 75% of initial levels
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| Buffer levels: | $21.20 for VanEck, $14.57 for iShares; 75% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 28
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| Agent: | Barclays
|
| Fees: | 3.25%
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| Cusip: | 06749N4E9
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