Published on 11/3/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.09 million autocallable contingent coupon notes on two indexes, ETF
Chicago, Nov. 3 – Barclays Bank plc priced $1.09 million of autocallable contingent coupon notes due Oct. 30, 2026 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.05% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the review date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its initial level, on any monthly review date after six months.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 60% trigger level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | Russell 2000 index, Nasdaq-100 index, Utilities Select Sector SPDR Fund
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| Amount: | $1,092,000
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| Maturity: | Oct. 30, 2026
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| Coupon: | 9.05% annual rate, payable monthly if each underlier closes at or above coupon barrier level on review date for that period; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlier closes below trigger level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
|
| Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any monthly review date after six months
|
| Initial levels: | $58.73 for ETF, 14,180.42 for Nasdaq, 1,636.938 for Russell
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| Coupon barriers: | $41.11 for ETF, 9,926.29 for Nasdaq, 1,145.86 for Russell; 70% of initial levels
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| Trigger levels: | $35.24 for ETF, 8,508.25 for Nasdaq, 982.16 for Russell; 60% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Nov. 1
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| Agent: | Barclays
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| Fees: | 3%
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| Cusip: | 06745NUR5
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