Published on 4/10/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.67 million market-linked callables with daily observation on indexes
By Wendy Van Sickle
Columbus, Ohio, April 10 – Barclays Bank plc priced $3.67 million of market-linked securities – callable with contingent coupon with daily observation and contingent downside due Oct. 10, 2028 linked to the lowest performing of the Nasdaq-100 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at par plus 10.25% yearly if each index closes at or above 70% of its initial level every trading day of that quarter.
The notes will be callable at par on any quarterly observation date.
If the notes are not called and each index finishes at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Wells Fargo Securities, LLC and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market linked securities – callable with contingent coupon with daily observation and contingent downside
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $3,671,000
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| Maturity: | Oct. 10, 2028
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| Coupon: | 10.25% annualized, payable quarterly, if each index closes at or above its coupon barrier level every trading day of that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | At par on any quarterly observation date
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| Initial levels: | 17,878.78 for Nasdaq, 2,053.828 for Russell, 5,070.76 for Stoxx
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| Coupon barrier levels: | 12,515.146 for Nasdaq, 1,437.6796 for Russell, 3,549.532 for Stoxx, 70% of initial levels
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| Downside threshold levels: | 10,727.268 for Nasdaq, 1,232.2968 for Russell, 3,042.456 for Stoxx, 60% of initial levels
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| Pricing date: | April 4
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| Settlement date: | April 9
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| Agents: | Wells Fargo Securities, LLC and Barclays
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| Fees: | 1.525%
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| Cusip: | 06745QJR1
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