Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $600,000 callable contingent coupon notes on S&P, Russell, Nasdaq
Chicago, April 22– Barclays Bank plc priced $600,000 of callable contingent coupon notes due Jan. 29, 2026 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 9.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes are callable at par monthly starting after six months.
If each index finishes at or above its 70% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the least performing index’s decline from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $600,000
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| Maturity: | Jan. 29, 2026
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| Contingent coupon: | 9.5% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above final barrier; otherwise, investors will lose 1% for each 1% decline of least performing index
|
| Call option: | At par monthly starting after six months
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| Initial levels: | 4,868.55 for S&P, 1,961.865 for Russell and 17,499.30 for Nasdaq
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| Coupon barrier levels: | 3,407.99 for S&P, 1,373.31 for Russell and 12,249.51 for Nasdaq, or 70% of initial levels
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| Final barrier levels: | 3,407.99 for S&P, 1,373.31 for Russell and 12,249.51 for Nasdaq, or 70% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | Barclays
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| Fees: | 0.45%
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| Cusip: | 06745PM81
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