Published on 7/5/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $267,000 buffered autocallable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, July 5 – Barclays Bank plc priced $267,000 of buffered autocallable contingent coupon notes due Feb. 14, 2028 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 3000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 8.45% per year if each index closes at or above its 70% coupon barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date after one year.
The payout at maturity will be par plus the final coupon unless any index falls below 70%, in which case investors will lose 1.428571% for each 1% decline of the worse performing index beyond 30%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000, Nasdaq-100 and S&P 500
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| Amount: | $267,000
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| Maturity: | Feb. 14, 2028
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| Contingent coupon: | Quarterly at 8.45% per year if each component closes at or above coupon barrier level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any index falls below buffer level, in which case investors will lose 1.428571% for each 1% decline of the worse performing index beyond 30%
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial levels on any quarterly determination date after one year
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| Initial index levels: | 4,081.50 for S&P, 12,381.17 for Nasdaq 1,915.339 for Russell
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| Coupon barrier/buffer levels: | 2,857.05 for S&P, 8,666.82 for Nasdaq, 1,340.74 for Russell; 70% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06749NP63
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