Published on 9/21/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $168,000 buffered callable contingent coupon notes on S&P, Russell
By Kiku Steinfeld
Chicago, Sept. 21 – Barclays Bank plc priced $168,000 of buffered callable contingent coupon notes due Jan. 31, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if each index closes at or above its coupon barrier, 85% of its initial level, on the observation date for that month.
The notes will be callable monthly at par plus any coupon due on any monthly call valuation date after three months.
The payout at maturity will be par unless either index finishes below the 85% downside barrier, in which case investors will lose 1% for each 1% decline of the lesser performing index beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered callable contingent coupon notes
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $168,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 7.5%, payable monthly if each index closes at or above coupon barrier on related observation date
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| Price: | Par
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| Call option: | At par plus any coupon due on any monthly call valuation date after three months
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| Payout at maturity: | Par if both indexes finish above buffer level; otherwise, 1% loss for each 1% decline of worse performing index beyond buffer
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| Initial levels: | 4,515.55 for S&P, 2,028.45 for Russell
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| Coupon barriers: | 3,838.22 for S&P, 1,724.19 for Russell, 85% of initial levels
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| Buffer levels: | 3,838.22 for S&P, 1,724.19 for Russell, 85% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Agent: | Barclays
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| Fees: | 0.8%
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| Cusip: | 06748X3W9
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