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Published on 2/12/2024 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $283,000 autocallable contingent coupon notes on three stocks

Chicago, Feb. 12 – Barclays Bank plc priced $283,000 of autocallable contingent coupon buffered notes due May 29, 2026 linked to the stock performance of Home Depot, Inc., Nvidia Corp. and Starbucks 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 11.15% if each stock closes above its coupon barrier price, 60% of its initial price, on a related determination date.

The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any quarterly call observation date after one year.

If the notes are not called and the final share price of each stock is greater than or equal to the 80% final buffer level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the decline of the share price of the least performing stock beyond the 20% buffer.

Barclays is the underwriter.

Issuer:Barclays Bank plc
Issue:Autocallable contingent coupon buffered notes
Underlying stocks:Home Depot, Inc., Nvidia Corp. and Starbucks Corp.
Amount:$283,000
Maturity:May 29, 2026
Coupon:11.15% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
Price:Par
Payout at maturity:Par plus final coupon if each stock finishes at or above 80% of its initial share price; otherwise, exposure to decline of least performing stock beyond 20% buffer
Call:At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any quarterly observation date after one year
Initial share prices:$286.75 for Home Depot, $379.80 for Nvidia, $98.44 for Starbucks
Coupon barrier prices:$172.05 for Home Depot, $227.88 for Nvidia, $59.06 for Starbucks; 60% of initial levels
Final buffer prices:$229.40 for Home Depot, $303.84 for Nvidia, $78.75 Starbucks; 80% of initial levels
Pricing date:May 25, 2023
Settlement date:May 31, 2023
Agent:Barclays
Fees:3%
Cusip:06745MBN7

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