Published on 11/30/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $676,000 buffered autocallable contingent coupon notes on S&P, Russell
Chicago, Nov. 30 – Barclays Bank plc priced $676,000 of buffered autocallable contingent coupon notes due Oct. 28, 2027 linked to the least performing of the S&P 500 index and the Russell 200 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 9.5% if each index closes at or above its 80% coupon barrier level on the related observation date.
After one year, if each index closes at or above its initial level on any monthly observation date, the notes will be automatically redeemed at par.
If the notes are not redeemed prior to maturity, the payout will be par unless any index finishes below 85% of its initial level, in which case investors will lose 1% for each 1% that the least performing index loses more than 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $676,000
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| Maturity: | Oct. 28, 2027
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| Contingent coupon: | 9.5% annual rate, payable monthly if each index closes at or above its coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above buffer level; 1% loss for each 1% decline of least performing index beyond buffer
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| Call: | After one year, if each index closes at or above its initial level on any monthly observation date, automatically called at par
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| Initial index levels: | 1,796.155 for Russell, 3,859.11 for S&P
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| Coupon barrier levels: | 1,436.92 for Russell, 3,087.29 for S&P, 80% of initial levels
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| Buffer levels: | 1,526.73 for Russell, 3,280.24 for S&P, 85% of initial levels
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| Pricing date: | Oct. 25
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| Settlement date: | Oct. 28
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| Agent: | Barclays
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| Fees: | 3.75%
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| Cusip: | 06748XYQ8
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