Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $523,000 phoenix autocallable notes on two stocks
Chicago, Feb. 5 – Barclays Bank plc priced $523,000 of phoenix autocallable notes due May 15, 2025 linked to the least performing of Occidental Petroleum Corp. and Devon Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 14.75% 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 starting after six months.
The payout at maturity will be par unless any stock finishes below 50% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying stocks: | Occidental Petroleum Corp. and Devon Energy Corp.
|
Amount: | $523,000
|
Maturity: | May 15, 2025
|
Coupon: | 14.75% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | Par unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock
|
Call: | Automatically at par plus contingent coupon if each stock closes at or above its initial level on any monthly call observation date starting after six months
|
Initial levels: | $58.09 for Occidental, $47.52 for Devon
|
Coupon barriers: | $29.05 for Occidental, $23.76 for Devon; 50% of initial levels
|
Final barriers: | $29.05 for Occidental, $23.76 for Devon; 50% of initial levels
|
Pricing date: | May 12, 2023
|
Settlement date: | May 17, 2023
|
Agent: | Barclays
|
Fees: | 2.875%
|
Cusip: | 06745MD62
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.