Published on 8/24/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.4 million 10.5% callable fixed coupon notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Aug. 24 – Barclays Bank plc priced $1.4 million of 10.5% callable fixed coupon notes due Aug. 20, 2024 linked to the least performing of the Nasdaq-100 index, the Technology Select Sector SPDR Fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any contingent coupon payment date after three months.
The payout at maturity will be par plus the final coupon due unless any underlier finishes below the 70% downside barrier, in which case investors will lose 1% for each 1% decline of the worst performer from initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable fixed coupon notes
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Underlying assets: | Russell 2000 index, Nasdaq-100 index, Technology Select Sector SPDR Fund
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Amount: | $1.4 million
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Maturity: | Aug. 20, 2024
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Coupon: | 10.5%; payable monthly
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Price: | Par
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Payout at maturity: | Par unless any underlier falls by more than 30%, in which case full exposure to decline of worst performer from initial level
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Call option: | At par on any interest payment date after three months
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Initial levels: | 15,037.65 for Nasdaq, 1,895.755 for Russell, $167.89 for ETF
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Barrier levels: | 10,526.36 for Nasdaq, 1,327.03 for Russell, $117.52 for ETF; 70% of initial levels
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Pricing date: | Aug. 15
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Settlement date: | Aug. 18
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06745N4S2
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