Published on 10/24/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.15 million phoenix autocallable notes on salesforce.com
Chicago, Oct. 24 – Barclays Bank plc priced $1.15 million of phoenix autocallable notes due March 23, 2023 linked to the common stock of salesforce.com, 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 10.1% if the stock closes at or above its 75% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par plus the coupon unless the stock finishes below 75% of its initial value, in which case investors will be fully exposed to the stock’s decline, payable in shares or cash at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | salesforce.com, inc.
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| Amount: | $1.15 million
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| Maturity: | March 23, 2023
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| Coupon: | 10.1% annualized, payable monthly if 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 plus coupon unless stock finishes below final barrier level, in which case full exposure to stock’s decline, payable as 5.08027 shares or cash at the issuer’s option
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| Call: | At par plus contingent coupon if stock closes at or above its initial level on any monthly call observation date after six months
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| Initial levels: | $196.84
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| Coupon barrier: | $147.63, 75% of initial level
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| Barrier level: | $147.63, 75% of initial level
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 24
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| Agent: | Barclays
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| Fees: | 2.15%
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| Cusip: | 06741WU73
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