Published on 7/21/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.31 million callable contingent coupon notes on indexes, ETF
Chicago, July 21 – Barclays Bank plc priced $1.31 million of callable contingent coupon notes due Jan. 16, 2026 linked to the performance of the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 11.6% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly call date after three months.
If the notes are not redeemed early and each underlier finishes at or above its 70% final barrier level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $1,310,000
|
| Maturity: | Jan. 16, 2026
|
| Contingent coupon: | 11.6% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the final level of each underlier is greater than or equal to its final barrier, par plus final coupon; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | In whole at par plus any coupon due on any monthly call date after three months
|
| Initial levels: | $41.24 for ETF, 1,950.891 for Russell, 4,391.76 for Stoxx
|
| Coupon barriers: | $28.87 for ETF, 1,365.62 for Russell, 3,074.23 for Stoxx; 70% of initial levels
|
| Final barrier levels: | $28.87 for ETF, 1,365.62 for Russell, 3,074.23 for Stoxx; 70% of initial levels
|
| Pricing date: | July 13
|
| Settlement date: | July 18
|
| Agent: | Barclays
|
| Fees: | 0.6%
|
| Cusip: | 06745MRT7
|
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