Published on 4/12/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.06 million market-linked autocalls with buffered downside on stocks
By William Gullotti
Buffalo, N.Y., April 12 – Barclays Bank plc priced $2.06 million of market-linked securities – autocallable with fixed percentage buffered downside due April 1, 2027 linked to the stock performance of Agnico Eagle Mines Ltd., Barrick Gold Corp. and Newmont Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 24.25% annualized call premium if each stock closes at or above its initial level on any semiannual observation date after one year.
If each stock finishes at or above initial level, the payout at maturity will be par plus 72.75%.
Investors will receive par if the worst performer declines by no more than 10% and lose 1% for every 1% decline of the worst performer beyond 10%.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market linked securities – autocallable with fixed percentage buffered downside
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| Underlying stocks: | Agnico Eagle Mines Ltd., Barrick Gold Corp., Newmont Corp.
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| Amount: | $2,063,000
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| Maturity: | April 1, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above initial level, par plus 72.75%; if worst performer declines up to 10%, par; otherwise, lose 1% for every 1% decline of worst performer beyond 10%
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| Call: | At plus a 24.25% annualized call premium if each stock closes at or above its initial level on any semiannual observation date after one year
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| Initial levels: | $59.65 for Agnico, $16.64 for Barrick, $35.84 for Newmont
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| Downside thresholds: | $53.685 for Agnico, $14.976 for Barrick, $32.256 for Newmont; 90% of initial levels
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agents: | Wells Fargo Securities, LLC and Barclays Capital Inc.
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| Fees: | 2.575%
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| Cusip: | 06745QEE5
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