Published on 10/26/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $769,000 callable contingent coupon notes linked to S&P, Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., Oct. 26 – Barclays Bank plc priced $769,000 of callable contingent coupon notes due Nov. 5, 2025 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its barrier level, 55% of its initial level, on the observation date for that month.
After three months, the notes are callable at par on any monthly observation date.
The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will lose 1% for every 1% that the least performing index declines 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, Nasdaq-100 index and Russell 2000 index
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| Amount: | $769,000
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| Maturity: | Nov. 5, 2025
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| Coupon: | 10% per year, payable monthly if each index closes at or above barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for every 1% that least performing index declines from initial level
|
| Call: | After three months, callable at par on any monthly observation date
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| Initial levels: | 3,871.98 for S&P, 11,405.57 for Nasdaq and 1,846.863 for Russell
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| Barrier levels: | 2,129.59 for S&P, 6,273.06 for Nasdaq and 1,015.77 for Russell, or 55% of initial level
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Agent: | Barclays
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| Fees: | 0.75%
|
| Cusip: | 06748XXT3
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