Published on 8/11/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $550,000 buffered autocallable notes on S&P, Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., Aug. 11 – Barclays Bank plc priced $550,000 of buffered autocallable notes due Feb. 13, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an 8.5% call premium if each index closes at or above its initial level on Aug. 9, 2023.
If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be par plus the return of the worst performer.
If the worst performer declines but finishes at or above the 60% buffer level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 40%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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| Amount: | $550,000
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| Maturity: | Feb. 13, 2024
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| Contingent coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes flat or positive, the payout at maturity will be par plus the return of the worst performer; if the worst performer declines but finishes at or above buffer level, par; otherwise, 1% loss for each 1% decline of the worst performer beyond the buffer
|
| Call: | Automatically at par plus 8.5% call premium if each index closes at or above its initial level on Aug. 9, 2023
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| Initial levels: | 1,906.456 for Russell, 4,151.94 for S&P, 13,311.04 for Nasdaq
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| Buffer levels: | 1,143.87 for Russell, 2,491.164 for S&P, 7,986.62 for Nasdaq; 60% of initial levels
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| Strike date: | Aug. 4
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 11
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| Agent: | Barclays
|
| Fees: | 1.8%
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| Cusip: | 06748XMF5
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