Published on 4/12/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.71 million contingent coupon buffered notes on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., April 12 – Barclays Bank plc priced $2.71 million of contingent coupon barrier notes due June 2, 2028 linked to the performance 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 6.85% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
If each index finishes at or above its 70% buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% that the worst performer declines beyond 30%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent coupon buffered notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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| Amount: | $2.71 million
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| Maturity: | June 2, 2028
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| Contingent coupon: | 6.85% per year, payable monthly if each index closes at or above coupon barrier on related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above buffer level, par plus final coupon; otherwise, lose 1% for each 1% that the worst performer declines beyond buffer
|
| Initial levels: | 18,254.69 for Nasdaq, 2,124.547 for Russell, 5,254.35 for S&P
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| Coupon barriers: | 12,778.28 for Nasdaq, 1,487.18 for Russell, 3,678.05 for S&P; 70% of initial levels
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| Buffer levels: | 12,778.28 for Nasdaq, 1,487.18 for Russell, 3,678.05 for S&P; 70% of initial levels
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| Pricing date: | March 28
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| Settlement date: | April 3
|
| Agent: | Barclays
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| Fees: | 0.7%
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| Cusip: | 06745QDH9
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