Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.53 million autocallable contingent coupon notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – Barclays Bank plc priced $1.53 million of autocallable contingent coupon notes due Nov. 20, 2025 linked to the least 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.
The notes will pay a contingent monthly coupon at an annual rate of 12.25% if each index closes at or above its coupon barrier level, 60% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date.
If the notes have not been called and each index finishes at or above its coupon barrier, the payout at maturity will be par plus a coupon.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,527,000
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| Maturity: | Nov. 20, 2025
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| Coupon: | 12.25% annual rate, payable monthly if each index closes at or above coupon barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above coupon barrier, par plus coupon; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date after three months
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| Initial levels: | 33,592.92 for Dow, 11,871.15 for Nasdaq, 1,889.204 for Russell
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| Coupon barrier: | 20,155.75 for Dow, 7,122.69 for Nasdaq, 1,133.52 for Russell; 60% of initial levels
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| Trigger levels: | 20,155.75 for Dow, 7,122.69 for Nasdaq, 1,133.52 for Russell; 60% of initial levels
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 18
|
| Agent: | Barclays
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| Fees: | 0.75%
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| Cusip: | 06749N5F5
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