Published on 3/3/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.61 million contingent market-linked autocalls with downside on indexes
By William Gullotti
Buffalo, N.Y., March 3 – Barclays Bank plc priced $2.61 million of market-linked securities due March 3, 2026 – autocallable with contingent downside linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 12% annualized call premium if each index closes at or above its initial level on any annual observation date.
If each index finishes at or above initial level, the payout at maturity will be par plus 36%.
Investors will receive par if the worst performer declines by no more than 40% and lose 1% for every 1% decline if the worst performer declines beyond 40%.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $2,605,000
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| Maturity: | March 3, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 36%; if worst performer declines up to 40%, par; otherwise, full exposure to decline of worst performer from initial level
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| Call: | At plus a 12% annualized call premium if each index closes at or above its initial level on any annual observation date
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| Initial levels: | 1,896.991 for Russell, 32,656.7 for Dow, 12,042.12 for Nasdaq
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| Downside thresholds: | 1,138.1946 for Russell, 19,594.02 for Dow, 7,225.272 for Nasdaq; 60% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agents: | Wells Fargo Securities, LLC and Barclays Capital Inc.
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| Fees: | 2.425%
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| Cusip: | 06749NT69
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