Published on 4/18/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.24 million autocallable contingent coupon notes on two indexes, ETF
By William Gullotti
Buffalo, N.Y., April 18 – Barclays Bank plc priced $3.24 million of autocallable contingent coupon notes due July 17, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 19% if each underlier closes at or above its coupon barrier level, 65% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its call level, 105% of initial level, on any monthly review date after six months.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 65% trigger level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | Russell 2000 index, Nasdaq-100 index, VanEck Vectors Gold Miners ETF
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| Amount: | $3,236,000
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| Maturity: | July 17, 2024
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| Coupon: | 19% annual rate, payable monthly if each underlier closes at or above coupon barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any underlier closes below its trigger level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
|
| Call: | Automatically at par plus contingent coupon if each underlier closes at or above call level on any monthly review date after six months
|
| Initial levels: | $34.92 for ETF, 12,848.35 for Nasdaq, 1,773.698 for Russell
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| Call levels: | $36.67 for ETF, 13,490.77 for Nasdaq, 1,862.38 for Russell; 105% of initial levels
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| Coupon barriers: | $22.70 for ETF, 8,351.43 for Nasdaq, 1,152.9 for Russell; 65% of initial levels
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| Trigger levels: | $22.70 for ETF, 8,351.43 for Nasdaq, 1,152.9 for Russell; 65% of initial levels
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| Pricing date: | April 12
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| Settlement date: | April 17
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| Agent: | Barclays
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| Fees: | 0.25%
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| Cusip: | 06745M3H9
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