Published on 11/14/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1 million contingent coupon notes on Russell, S&P, Nasdaq
Chicago, Nov. 14 – Barclays Bank plc priced $1 million of contingent coupon notes due Nov. 13, 2028 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 6.5% if each index closes at or above its coupon barrier level, 80% of its initial level, on the related observation date. Previously unpaid coupons will also be paid.
If the notes are not redeemed early, the payout at maturity will be par plus the final coupon, if any.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Contingent coupon notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $1,000,000
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Maturity: | Nov. 13, 2028
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Contingent coupon: | 6.5% per year, payable monthly if each index closes at or above coupon barrier on the observation date for that period; previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | Par plus any final coupon
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Initial levels: | 15,313.24 for Nasdaq, 1,714.068 for Russell, 4,382.78 for S&P
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Coupon barriers: | 12,250.59 for Nasdaq, 1,371.25 for Russell, 3,506.22 for S&P; 80% of initial levels
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Pricing date: | Nov. 8
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Settlement date: | Nov. 13
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Agent: | Barclays
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Fees: | 0.6%
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Cusip: | 06745NXX9
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