Published on 10/30/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $8.83 million buffered autocallable notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., Oct. 30 – Barclays Bank plc priced $8.83 million of buffered autocallable notes due April 24, 2025 linked to the performance of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 14% annualized call premium if each index closes at or above its initial level on the relevant semiannual valuation date.
If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be par plus 21%.
If the worst performer declines but finishes at or above the 80% buffer level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% decline of the worst performer beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $8,832,000
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| Maturity: | April 24, 2025
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| Contingent coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes flat or positive, the payout at maturity will be par plus 21%; if the worst performer declines but finishes at or above buffer level, par; otherwise, 1.25% loss for each 1% decline of the worst performer beyond the buffer
|
| Call: | Automatically at par plus 14% annualized call premium if each index closes at or above its initial level on the relevant semiannual valuation date
|
| Initial levels: | 1,680.792 for Russell, 4,224.16 for S&P
|
| Buffer levels: | 1,344.63 for Russell, 3,379.33 for S&P; 80% of initial levels
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| Strike date: | Oct. 20
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 27
|
| Agent: | Barclays
|
| Fees: | 0.15%
|
| Cusip: | 06745NUC8
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