Published on 5/30/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 phoenix autocallable notes on three stocks
By Kiku Steinfeld
Chicago, May 30 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Jan. 24, 2025 linked to the least performing of the common stocks of Amazon.com, Inc., Walt Disney Co. and Shopify Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 24.5% if each stock closes at or above its 50% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par if each stock finishes at or above its 50% final barrier.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock 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 stocks: | Amazon.com, Inc., Walt Disney Co. and Shopify Inc.
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| Amount: | $500,000
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| Maturity: | Jan. 24, 2025
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| Coupon: | 24.5% per year 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: | Par if each stock finishes at or above its final barrier; otherwise, 1% loss for each 1% decline of the worst performing stock from its initial level
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any monthly call observation date after six months
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| Initial levels: | $38.06 for Shopify, $93.68 for Amazon, $99.08 for Disney
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| Coupon barrier levels: | $19.03 for Shopify, $46.84 for Amazon, $49.54 for Disney, 50% of initial levels
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| Barrier levels: | $19.03 for Shopify, $46.84 for Amazon, $49.54 for Disney, 50% of initial levels
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| Pricing date: | Jan. 23, 2023
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| Settlement date: | Jan. 26, 2023
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| Agent: | Barclays
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| Fees: | 0.1%
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| Cusip: | 06749NJ78
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