Published on 5/5/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.05 million buffered autocallable contingent coupon notes on two indexes
Chicago, May 5 – Barclays Bank plc priced $1.05 million of buffered autocallable contingent coupon notes due April 28, 2028 linked to the least performing of 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 monthly coupon of at an 8.5% annualized rate if each index closes at or above its 85% coupon barrier value on the related observation date.
The notes will be automatically called at par plus coupon if each index closes at or above its call level, 100% of initial level, on any quarterly call observation date after one year.
The payout at maturity will be par plus the final coupon if each index finishes at or above 85% of initial level. Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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| Amount: | $1,045,000
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| Maturity: | April 28, 2028
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| Contingent coupon: | 8.5% annual rate, payable monthly if each index closes at or above coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless an index finishes below buffer level; in which case 1% loss for each 1% decline of the worst performer beyond the 15% buffer
|
| Call: | At par plus coupon if each index closes at or above call level on any quarterly observation date after one year
|
| Initial levels: | 12,725.11 for Nasdaq, 1,745.952 for Russell
|
| Coupon barrier levels: | 10,816.34 for Nasdaq, 1,484.06 for Russell; 85% of initial levels
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| Buffer levels: | 10,816.34 for Nasdaq, 1,484.06 for Russell; 85% of initial levels
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| Pricing date: | April 25
|
| Settlement date: | April 28
|
| Agent: | Barclays
|
| Fees: | 3.75%
|
| Cusip: | 06749NZP0
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