Published on 4/1/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $984,000 callable contingent coupon notes on indexes, ETF
By Kiku Steinfeld
Chicago, April 1– Barclays Bank plc priced $984,000 of callable contingent coupon notes due April 4, 2028 linked to the performance of the S&P 500 index, the Russell 2000 index and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 12% if each underlier closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly observation date after three months.
If the notes are not redeemed early and each underlier finishes at or above its 60% final barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index, Technology Select Sector SPDR Fund
|
| Amount: | $984,000
|
| Maturity: | April 4, 2028
|
| Contingent coupon: | 12% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the final level of each underlier is greater than or equal to its final barrier, par; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | In whole at par plus any coupon due on any monthly observation date after three months
|
| Initial levels: | 4,450.38 for S&P, 1,888.734 for Russell, $173.86 for fund
|
| Coupon barriers: | 3,337.79 for S&P, 1,416.55 for Russell, $130.40 for fund; 75% of initial levels
|
| Final barrier levels: | 2,670.23 for S&P, 1,133.24 for Russell, $104.32 for fund; 60% of initial levels
|
| Pricing date: | June 30, 2023
|
| Settlement date: | July 6, 2023
|
| Agent: | Barclays
|
| Fees: | 1%
|
| Cusip: | 06745MG51
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
