Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $13.93 million autocallable contingent coupon notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – Barclays Bank plc priced $13.93 million of autocallable contingent coupon notes due Aug. 13, 2026 linked to the least performing of the Russell 2000 index, the Consumer Staples Select Sector SPDR Fund and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at an 8.9% annualized rate if each underlier closes at or above its 75% coupon barrier value on the related observation date, plus any previously unpaid coupon.
The notes will be called at par plus the coupon if the each underlier closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par plus any final coupon if each underlier finishes at or above 65% of initial level. Otherwise, investors will lose 1% for each 1% decline of that asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying assets: | Consumer Staples Select Sector SPDR Fund, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $13,932,000
|
| Maturity: | Aug. 13, 2026
|
| Contingent coupon: | 8.9% annual rate, payable quarterly if each underlier closes at or above coupon barrier level on related observation date, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any, unless an underlier finishes below barrier level, in which case 1% loss for each 1% decline of the worst performer
|
| Call: | At par plus coupon if each underlier closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | $74.83 for ETF, 15,101.71 for Nasdaq, 1,930.767 for Russell
|
| Coupon barrier levels: | $56.12 for ETF, 11,326.28 for Nasdaq, 1,448.08 for Russell; 75% of initial levels
|
| Barrier levels: | $48.64 for ETF, 9,816.11 for Nasdaq, 1,255.0 for Russell; 65% of initial levels
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 14
|
| Agent: | Barclays
|
| Fees: | 2.95%
|
| Cusip: | 06745MVM7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
