Published on 11/10/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays Bank prices $14.17 million 10.15% contingent income autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 10 – Barclays Bank plc priced $14.17 million of contingent income autocallable securities due Nov. 8, 2028 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.15% if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if all three indexes close above their initial levels on any quarterly determination period end date starting after six months.
At maturity the payout will be par unless any index closes below its 60% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent and Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $14,173,000
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| Maturity: | Nov. 8, 2028
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| Coupon: | 10.15% annual rate, if each underlying index closes at or above its coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
|
| Call: | Automatically at par if all three indexes close above their initial levels on any quarterly period end date starting after six months
|
| Initial levels: | 15,099.49 for Nasdaq, 1,760.705 for Russell, 34,061.32 for Dow
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| Coupon barrier levels: | 12,079.592 for Nasdaq, 1,408.564 for Russell, 27,249.056 for Dow, 80% of initial levels
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| Downside thresholds: | 9,059.694 for Nasdaq, 1,056.423 for Russell, 20,436.792 for Dow, 60% of initial levels
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| Pricing date: | Nov. 3
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| Settlement date: | Nov. 8
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| Agent: | Barclays with Morgan Stanley Wealth Management as selected dealer
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| Fees: | 3%
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| Cusip: | 06745NVV5
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