Published on 8/8/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $665,000 phoenix autocallable notes on SolarEdge
Chicago, Aug. 8 – Barclays Bank plc priced $665,000 of phoenix autocallable notes due July 30, 2026 linked to the common stock of SolarEdge Technologies Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 20% if the stock closes at or above its 60% coupon barrier level on a related observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly call date.
The payout at maturity will be par unless the stock finishes below 60% of its initial value, in which case 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: | SolarEdge Technologies Inc.
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Amount: | $665,000
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Maturity: | July 30, 2026
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Coupon: | 20% annualized, payable quarterly if stock closes at or above coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par unless stock finishes below final barrier level, in which case investors will be fully exposed to decline of stock
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Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly call date
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Initial level: | $244.26
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Coupon barrier level: | $146.56, 60% of initial level
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Final barrier level: | $146.56, 60% of initial level
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Barclays
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Fees: | 3.1%
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Cusip: | 06745MUZ9
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