Published on 2/1/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 contingent coupon barrier notes on S&P, Dow, Russell
Chicago, Feb. 1 – Barclays Bank plc priced $500,000 of contingent coupon barrier notes due Jan. 18, 2029 linked to the least performing of the Dow Jones industrial average, 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 quarterly coupon at an annualized rate of 7.5% 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 60% barrier level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will be fully exposed to the decline of the least-performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent coupon barrier notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $500,000
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| Maturity: | Jan. 18, 2029
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| Contingent coupon: | 7.5% per year, payable quarterly if each index closes at or above coupon barrier on related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above barrier level, par plus any final coupon; otherwise, full exposure to losses of least-performing index from its initial level
|
| Initial levels: | 37,525.16 for Dow, 1,968.035 for Russell, 4,756.50 for S&P
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| Coupon barriers: | 26,267.61 for Dow, 1,377.62 for Russell, 3,329.55 for S&P; 70% of initial levels
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| Barrier levels: | 22,515.10 for Dow, 1,180.82 for Russell, 2,853.90 for S&P; 60% of initial levels
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 12
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| Agent: | Barclays
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| Fees: | 1%
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| Cusip: | 06745PJU6
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