Published on 10/11/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $858,000 phoenix autocallable notes on S&P, Dow, Russell
By Kiku Steinfeld
Chicago, Oct. 11 – Barclays Bank plc priced $858,000 of phoenix autocallable notes due Feb. 22, 2027 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.75% if each index closes at or above its 75% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any index finishes below 75% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $858,000
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| Maturity: | Feb. 22, 2027
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| Coupon: | 5.75% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial level: | 34,312.03 for Dow, 2,028.09 for Russell, 4,380.26 for S&P
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| Coupon barrier levels: | 25,734.02 for Dow, 1,521.07 for Russell, 3,285.20 for S&P; 75% of initial levels
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| Final barrier levels: | 25,734.02 for Dow, 1,521.07 for Russell, 3,285.20 for S&P; 75% of initial levels
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| Pricing date: | Feb. 17
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| Settlement date: | Feb. 23
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| Agent: | Barclays
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| Fees: | 4.1%
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| Cusip: | 06748XEP2
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