Published on 2/1/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.97 million 7% buffered autocallable fixed-coupon notes on index, ETF
By William Gullotti
Buffalo, N.Y., Feb. 1 – Barclays Bank plc priced $4.97 million of 7% buffered autocallable fixed-coupon notes due July 30, 2025 linked to the performance of the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable semiannually.
The notes will be automatically called at par if each underlier closes at or above its initial level on any semiannual valuation date.
If the notes are not called and each underlier finishes at or above 75% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1.333333% for each 1% decline of the worst performer beyond 25%.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable fixed-coupon notes
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Underlying assets: | Russell 2000 index, iShares MSCI EAFE ETF
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Amount: | $4,968,000
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Maturity: | July 30, 2025
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Coupon: | 7%, payable semiannually
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Price: | Par
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Payout at maturity: | Par unless any underlier finishes below buffer level, in which case 1.333333% loss for each 1% decline of the worst performer below buffer
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Call: | At par if each underlier closes at or above initial level on any semiannual valuation date
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Initial levels: | 1,961.865 for Russell, $74.51 for ETF
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Buffer levels: | 1,471.4 for Russell, $55.88 for ETF; 75% of initial levels
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Strike date: | Jan. 24
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Pricing date: | Jan. 25
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Settlement date: | Jan. 30
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Agent: | Barclays
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Fees: | 0.15%
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Cusip: | 06745PNL1
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