Chicago, Feb. 11 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Nov. 20, 2024 linked to the performance of Walt Disney Co., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.25% if the stock closes at or above its 80% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if the stock closes at or above its initial level on any quarterly call observation date.
At maturity, investors will receive par if the stock finishes above its 70% barrier value.
Otherwise, investors will be fully exposed to the decline of the stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | Walt Disney Co.
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| Amount: | $500,000
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| Maturity: | Nov. 20, 2024
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| Coupon: | 11.25% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par if stock closes above 70% barrier level; otherwise, full exposure to decline
|
| Call: | At par if underlying stock closes at or above initial level on any quarterly call observation date
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| Initial level: | $92.86
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| Coupon barrier: | $74.29, 80% of initial level
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| Final barrier: | $65.00; 70% of initial level
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| Pricing date: | May 24, 2023
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| Settlement date: | May 30, 2023
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| Agent: | Barclays
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| Fees: | 2.375%
|
| Cusip: | 06745MDV7
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