Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $123,000 callable contingent coupon notes linked to S&P, Russell, Nasdaq
Chicago, Oct. 12 – Barclays Bank plc priced $123,000 of callable contingent coupon notes due Oct. 3, 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 15.25% 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
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Issue: | Callable contingent coupon notes
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Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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Amount: | $123,000
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Maturity: | Oct. 3, 2025
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Contingent coupon: | 15.25% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par if each index finishes at or above barrier level; otherwise, 1% loss for each 1% decline of least performing index
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Call option: | At par monthly after three months
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Initial levels: | 3,585.62 for S&P, 1,664.716 for Russell and 10,971.22 for Nasdaq
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Coupon barrier levels: | 2,509.93 for S&P, 1,165.30 for Russell and 7,679.85 for Nasdaq, or 70% of initial levels
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Barrier levels: | 2,509.93 for S&P, 1,165.30 for Russell and 7,679.85 for Nasdaq, or 70% of initial levels
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Pricing date: | Sept. 30, 2022
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Settlement date: | Oct. 5, 2022
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06748XVD0
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