Published on 6/5/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $759,000 buffered autocallable contingent coupon notes on Nasdaq, Russell
By Kiku Steinfeld
Chicago, June 5 – Barclays Bank plc priced $759,000 of buffered autocallable contingent coupon notes due Jan. 29, 2026 linked to the least performing of the Russell 2000 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 of at a 8.25% annualized rate if each index closes at or above its 80% coupon barrier value on the related observation date, plus any previously unpaid coupons.
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 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 that index beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $759,000
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| Maturity: | Jan. 29, 2026
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| Contingent coupon: | 8.25% annual rate, payable quarterly if each index closes at or above coupon barrier level on related observation date, plus any previously unpaid coupons
|
| 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 buffer
|
| Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | 12,051.48 for Nasdaq, 1,903.064 for Russell
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| Coupon barrier levels: | 9,641.18 for Nasdaq, 1,522.45 for Russell; 80% of initial levels
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| Buffer levels: | 10,243.76 for Nasdaq, 1,617.60 for Russell; 85% of initial levels
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| Pricing date: | Jan. 26, 2023
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| Settlement date: | Jan. 31, 2023
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| Agent: | Barclays
|
| Fees: | 3.25%
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| Cusip: | 06749NEJ7
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