Published on 10/5/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.34 million callable contingent coupon notes linked to S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Barclays Bank plc priced $1.34 million of callable contingent coupon notes due Oct. 2, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 12.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes are callable at par monthly after three months.
If each index finishes at or above its 70% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the least performing index’s decline from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $1,339,000
|
| Maturity: | Oct. 2, 2025
|
| Contingent coupon: | 12.5% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes at or above barrier level; otherwise, 1% loss for each 1% decline of least performing index
|
| Call option: | At par monthly after three months
|
| Initial levels: | 4,288.05 for S&P, 1,785.102 for Russell and 14,715.24 for Nasdaq
|
| Coupon barrier levels: | 3,001.64 for S&P, 1,249.57 for Russell and 10,300.67 for Nasdaq, or 70% of initial levels
|
| Barrier levels: | 3,001.64 for S&P, 1,249.57 for Russell and 10,300.67 for Nasdaq, or 70% of initial levels
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 5
|
| Agent: | Barclays
|
| Fees: | 0.2%
|
| Cusip: | 06745NNW2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
