By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – Barclays Bank plc priced $11.02 million of autocallable contingent coupon notes due Oct. 30, 2023 linked to an equally weighted stock basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Affirm Holdings, Inc., Advanced Micro Devices, Inc., CrowdStrike Holdings, Inc. and Lucid Group, Inc.
The notes pay a contingent monthly coupon at an annualized rate of 10% if the basket closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if the basket closes at or above its initial level on any monthly call observation date after six months.
If the notes are not called and the basket finishes at or above its coupon barrier level, the payout at maturity will be par plus the final coupon.
If the basket lags below the coupon barrier but finishes at or above its final barrier, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the basket’s decline from its initial level.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Affirm Holdings, Inc., Advanced Micro Devices, Inc., CrowdStrike Holdings, Inc., Lucid Group, Inc.; equal weights
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| Amount: | $11.02 million
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| Maturity: | Oct. 30, 2023
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| Contingent coupon: | 10% per year, payable monthly if the basket closes at or above coupon barrier on the related observation date
|
| Price: | Par
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| Payout at maturity: | If the basket finishes at or above its coupon barrier, par plus the final coupon; if the basket finishes below coupon barrier but at or above final barrier, par; otherwise, investors will be exposed to the basket’s decline from its initial level
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| Call: | Automatically at par plus coupon if the basket closes at or above its initial level on any monthly call observation date after six months
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| Initial levels: | $151.86 for Affirm, $287.08 for CrowdStrike, $26.38 for Lucid, $122.93 for Advanced Micro
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| Coupon barrier: | 75% of initial levels
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| Final barrier: | 60% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 29
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| Agent: | Barclays
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| Fees: | 3%
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| Cusip: | 06748WML4
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