E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 3/22/2024 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $2.61 million autocallable contingent coupon notes on three stocks

Chicago, March 22 – Barclays Bank plc priced $2.61 million of autocallable contingent coupon notes due March 4, 2027 linked to the least performing of the of the stocks of Apple Inc., Adobe Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 15% if each stock closes above its coupon barrier price, 60% of its initial price, on the related determination date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.

The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any monthly call observation date after one year.

If the notes are not called and the final share price of each stock is greater than or equal to the 60% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock from its initial level.

Barclays is the underwriter.

Issuer:Barclays Bank plc
Issue:Autocallable contingent coupon notes
Underlying stocks:Apple Inc., Adobe Inc. and Netflix, Inc.
Amount:$2,612,000
Maturity:March 4, 2027
Coupon:15% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
Price:Par
Payout at maturity:Par if each stock finishes at or above 60% of its initial share price; otherwise, full exposure to decline of least performing stock from initial share price
Call:At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date after one year
Initial share prices:$179.66 for Apple, $570.93 for Adobe, $619.34 for Netflix
Coupon barrier prices:$107.80 for Apple, $342.56 for Adobe, $371.60 for Netflix; 60% of initial levels
Final barrier prices:$107.80 for Apple, $342.56 for Adobe, $371.60 for Netflix; 60% of initial levels
Pricing date:March 1
Settlement date:March 6
Agent:Barclays
Fees:0.8%
Cusip:06745PZK0

© 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.