Published on 3/14/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $900,000 buffered autocallable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, March 14 – Barclays Bank plc priced $900,000 of buffered autocallable contingent coupon notes due Dec. 2, 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 monthly coupon of at a 8.95% annualized rate if each index closes at or above its 70% coupon barrier value on the related observation date.
The notes will be automatically called at par if each index closes at or above its initial level on any monthly call observation date after one year.
The payout at maturity will be par if each index finishes at or above 75% of initial level. Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 25%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $900,000
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| Maturity: | Dec. 2, 2027
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| Contingent coupon: | 8.95% annual rate, payable monthly if each index closes at or above coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless an index finishes below buffer level; in which case 1% loss for each 1% decline of the worst performer beyond buffer
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| Call: | At par if each index closes at or above initial level on any monthly observation date after one year
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| Initial levels: | 33,852.53 for Dow, 1,836.551 for Russell, 3,957.63 for S&P
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| Coupon barrier levels: | 23,696.77 for Dow, 1,285.59 for Russell, 2,770.34 for S&P; 70% of initial levels
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| Buffer levels: | 25,389.40 for Dow, 1,377.41 for Russell, 2,968.22 for S&P; 75% of initial levels
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| Pricing date: | Nov. 29, 2022
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| Settlement date: | Dec. 2, 2022
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06749N7E6
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