Published on 4/18/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $11.65 million basket-linked buffer autocallable securities
By Wendy Van Sickle
Columbus, Ohio, April 18 – Barclays Bank plc priced $11.65 million of 0% basket-linked buffer autocallable securities due April 18, 2029 tied to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 7.5% weight.
The notes will be automatically called at par plus 13% if the basket closes at or above its initial level on April 21, 2025.
If the notes are not called and the basket return is positive, the payout at maturity will be par plus the gain.
Investors will receive par if the basket falls by up to 40% and will lose 1% for each 1% loss beyond 40%.
Barclays is the agent with UBS Financial Services Inc. as selling agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Basket-linked buffer autocallable securities
|
| Underlying indexes: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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| Amount: | $11,651,500
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| Maturity: | April 18, 2029
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If the notes are not called and the basket return is positive, par plus the gain; par if the basket falls by up to 40%; otherwise, 1% loss for each 1% decline beyond 40%
|
| Call: | Automatically at par plus 13% if the basket closes at or above initial level on April 21, 2025
|
| Initial levels: | 4,984.48 for Stoxx, 39,232.8 for Nikkei, 7,965.53 for FTSE, 11,395.81 for Swiss Market, 7,752.526 for S&P/ASX
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| Buffer level: | 60% of initial basket level
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| Pricing date: | April 15
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| Settlement date: | April 17
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| Agent: | Barclays with UBS Financial Services Inc. as selling agent
|
| Fees: | 2.5%
|
| Cusip: | 06748L164
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