Published on 8/25/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.7 million 9.3% contingent income callable securities on indexes
Chicago, Aug. 25 – Barclays Bank plc priced $6.70 million of contingent income callable securities due Aug. 21, 2025 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.3% if each underlying index closes at or above its 65% downside threshold on every trading day during the quarterly determination period.
The securities may be called at par on any quarterly payment date.
If each index gains or ends above its 65% downside threshold the payout at maturity will be par plus any contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
Barclays Capital Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $6,702,000
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| Maturity: | Aug. 21, 2025
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| Coupon: | 9.3% annual rate, paid quarterly if each underlying index closes at or above its downside threshold on every trading day during the observation period
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| Price: | Par
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| Payout at maturity: | If index finishes at or above its downside threshold level, par; 1% loss for every 1% that index declines if it finishes below its downside threshold level
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| Call: | At par on any quarterly payment date
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| Initial levels: | 14,694.84 for Nasdaq, 1,859.421 for Russell, 4,369.71 for S&P
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| Downside thresholds: | 9,551.646 for Nasdaq, 1,208.624 for Russell, 2,840.312 for S&P, 65% of initial level
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 23
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| Agent: | Barclays Capital Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 06745N7E0
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