Published on 12/3/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.39 million phoenix autocallable notes linked to three stocks
Chicago, Dec. 4 – Barclays Bank plc priced $1.39 million of phoenix autocallable notes due Dec. 2, 2026 linked to least performing of the stocks of Tesla, Inc., Meta Platforms, Inc. and the class A common stock of Alphabet Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 19% if each stock closes at or above its 55% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if each stock closes at or above its initial level on any monthly call observation date after three months.
If the notes are not called and each stock finishes at or above its 55% barrier level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Tesla, Inc. (Ticker: TSLA), Meta Platforms, Inc. (Ticker: META), Alphabet Inc. (Ticker: GOOGL)
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| Amount: | $1,390,000
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| Maturity: | Dec. 2, 2026
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| Coupon: | 19% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier level, par plus final coupon; otherwise, investors will be fully exposed to losses of worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly observation date after three months
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| Initial levels: | $236.08 for Tesla, $334.70 for Meta, $136.41 for Alphabet
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| Coupon barriers: | $129.84 for Tesla, $184.09 for Meta, $75.03 for Alphabet; 55% of initial levels
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| Final barriers: | $129.84 for Tesla, $184.09 for Meta, $75.03 for Alphabet; 55% of initial levels
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | Barclays
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| Fees: | 3.5%
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| Cusip: | 06745P2D2
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