Published on 11/2/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 autocallable contingent coupon notes on indexes
Chicago, Nov. 2 – Barclays Bank plc priced $500,000 of autocallable contingent coupon notes due March 2, 2026 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a 7.25% annualized rate if each index closes at or above its 70% coupon barrier value on the related observation date. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the final coupon if each index finishes at or above 70% of initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $500,000
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| Maturity: | March 2, 2026
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| Contingent coupon: | 7.25% annual rate, payable quarterly if each index closes at or above coupon barrier level on related observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless an index finishes below barrier level, in which case 1% loss for each 1% decline of the worst performer from its initial level
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| Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date
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| Initial levels: | 4,384.65 for S&P, 14,189.16 for Nasdaq, 2,040.929 for Russell
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| Coupon barrier levels: | 3,069.26 for S&P, 9,932.41 for Nasdaq, 1,428.65 for Russell; 70% of initial levels
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| Barrier levels: | 3,069.26 for S&P, 9,932.41 for Nasdaq, 1,428.65 for Russell; 70% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 4
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| Agent: | Barclays
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| Fees: | 1%
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| Cusip: | 06748XJA0
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