Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.42 million phoenix autocallable notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 23 – Barclays Bank plc priced $1.42 million of phoenix autocallable notes due April 21, 2027 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if each underlier closes at or above its 75% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 70% final barrier.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,421,000
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| Maturity: | April 21, 2027
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| Coupon: | 7% annualized, payable monthly if each underlier closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each underlier finishes at or above its final barrier; otherwise, 1% loss for each 1% decline of the worst performer from initial level
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| Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any monthly call observation date after six months
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| Initial levels: | 1,967.475 for Russell, 17,713.66 for Nasdaq, 37,798.97 for Dow
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| Coupon barriers: | 1,475.61 for Russell, 13,285.25 for Nasdaq, 28,349.23 for Dow; 75% of initial levels
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| Final barriers: | 1,377.23 for Russell, 12,399.56 for Nasdaq, 26,459.28 for Dow; 70% of initial levels
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| Pricing date: | April 16
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| Settlement date: | April 19
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| Agent: | Barclays
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| Fees: | 3%
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| Cusip: | 06745QJG5
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