Published on 4/14/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.79 million autocallable contingent coupon notes on indexes, ETF
Chicago, April 14 – Barclays Bank plc priced $3.79 million of autocallable contingent coupon notes due April 15, 2026 linked to the least performing of the Consumer Staples Select Sector SPDR fund, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at an 8.25% annualized rate if each underlier 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 called at par plus the coupon if each underlier closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above 60% of initial level. Otherwise, investors will lose 1% for each 1% decline of that asset from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | Consumer Staples Select Sector SPDR fund, Nasdaq-100 index and Russell 2000 index
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| Amount: | $3,785,000
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| Maturity: | April 15, 2026
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| Contingent coupon: | 8.25% annual rate, payable quarterly if each underlier closes at or above coupon barrier level on related observation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless an underlier finishes below barrier level, in which case 1% loss for each 1% decline of the worst performer from its initial level
|
| Call: | At par plus coupon if each underlier closes at or above initial level on any quarterly observation date after six months
|
| Initial levels: | 13,051.23 for Nasdaq, 1,772.443 for Russell, $75.36 for fund
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| Coupon barrier levels: | 9,135.86 for Nasdaq, 1,240.71 for Russell, $52.75 for fund; 70% of initial levels
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| Barrier levels: | 7,830.74 for Nasdaq, 1,063.47 for Russell, $45.22 for fund; 60% of initial levels
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| Pricing date: | April 10
|
| Settlement date: | April 13
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| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06745M2U1
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