Published on 1/25/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $691,000 phoenix autocallables linked to Amazon, Alphabet, Square
By Angela McDaniels
Tacoma, Wash., Jan. 25 – Barclays Bank plc priced $691,000 of phoenix autocallable notes due April 30, 2025 linked to the common stock of Amazon.com, Inc., the class A common stock of Alphabet Inc. and the class A common stock of Square Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 24.25% per year if each stock closes at or above its barrier level, 60% of its initial share price, on the observation date for that month.
Beginning July 26, 2023, the notes will be automatically called at par if each stock closes at or above its initial share price on any monthly call valuation date
The payout at maturity will be par unless the least performing stock’s final share price is less than its barrier level, in which case investors will be exposed to the decline of the least performing stock, payable in cash or shares at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Amazon.com, Inc., Alphabet Inc. and Square Inc.
|
| Amount: | $691,000
|
| Maturity: | April 30, 2025
|
| Coupon: | 24.25% per year, payable monthly if each stock closes at or above barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless least performing stock’s final share price is less than barrier level, in which case exposure to decline of least performing stock, payable in cash or shares at the issuer’s option
|
| Call: | Beginning July 26, 2023, automatically at par if each stock closes at or above initial share price on any monthly call valuation date
|
| Initial share prices: | $105.45 for Amazon, $107.34 for Alphabet and $60.79 for Square
|
| Barrier levels: | $63.27 for Amazon, $64.40 for Alphabet and $36.47 for Square, or 60% of initial share prices
|
| Pricing date: | April 28, 2023
|
| Settlement date: | May 3, 2023
|
| Agent: | Barclays
|
| Fees: | 3.25%
|
| Cusip: | 06741W4H0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
