Published on 1/21/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $650,000 autocallable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, Jan. 22 – Barclays Bank plc priced $650,000 of autocallable contingent coupon notes due June 5, 2025 linked to the least 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 will pay a contingent monthly coupon at an annual rate of 7.75% if each index closes at or above its coupon barrier level, 50% of its initial level, on the review date for that period, plus any previously unpaid coupons.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date after six months.
If the notes have not been called and each index finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive par.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $650,000
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| Maturity: | June 5, 2025
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| Coupon: | 7.75% annual rate, payable monthly if each index closes at or above coupon barrier level on review date for that period, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon otherwise due
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date after six months
|
| Initial levels: | 4,282.37 for S&P, 14,546.64 for Nasdaq, 1,830.906 for Russell
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| Coupon barrier: | 2,141.19 for S&P, 7,273.32 for Nasdaq, 915.45 for Russell; 50% of initial levels
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| Pricing date: | June 2, 2023
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| Settlement date: | June 7, 2023
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| Agent: | Barclays
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| Fees: | 0.4%
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| Cusip: | 06745MH43
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