Published on 10/3/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.04 million 7.25% barriered callable fixed coupon notes on S&P, Dow
By William Gullotti
Buffalo, N.Y., Oct. 3 – Barclays Bank plc priced $1.04 million of 7.25% callable fixed coupon notes due Oct. 6, 2025 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any contingent coupon payment date after one year.
The payout at maturity will be par plus the final coupon due unless either index finishes below the 60% downside barrier, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable fixed coupon notes
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Underlying indexes: | S&P 500 index, Dow Jones industrial average
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Amount: | $1.04 million
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Maturity: | Oct. 6, 2025
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Coupon: | 7.25%; payable monthly
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 40%, in which case full exposure to decline of worst performer from initial level
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Call option: | At par on any interest payment date after one year
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Initial levels: | 3,719.04 for S&P, 29,683.74 for Dow
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Barrier levels: | 2,231.42 for S&P, 17,810.24 for Dow; 60% of initial levels
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Agent: | Barclays
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Fees: | 0.6%
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Cusip: | 06748XWE7
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