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
|
|
|
© 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.