Published on 4/20/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.15 million contingent income autocallables linked to S&P 500
New York, April 20 – Barclays Bank plc priced $8.15 million of contingent income autocallable securities due Oct. 17, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10% per year, paid quarterly, if the index closes at or above its 75% downside threshold on the relevant observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the index closes at or above its initial level on any quarterly review date after six months.
At maturity, the payout will be par unless the index finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the index.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying index: | S&P 500 index
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| Amount: | $8,152,000
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| Maturity: | Oct. 17, 2024
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| Coupon: | 10% per year, paid quarterly, if the index closes at or above its downside threshold on the relevant observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the index
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| Call: | Automatically at par if the index closes at or above its initial level on any quarterly review date after six months
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| Initial level: | 4,137.64
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| Downside threshold: | 3,103.230, 75% of initial level
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| Pricing date: | April 14
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| Settlement date: | April 19
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1%
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| Cusip: | 06745M3T3
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