Published on 8/23/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.03 million callable contingent coupon notes on Russell, Nasdaq, Dow
Chicago, Aug. 23 – Barclays Bank plc priced $1.03 million of callable contingent coupon notes due Aug. 22, 2024 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 10% if each index closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date.
If the notes are not redeemed, the payout will be par plus the final coupon unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
Barclays is the underwriter.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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Amount: | $1,026,000
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Maturity: | Aug. 22, 2024
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Contingent coupon: | 10% per year, payable quarterly if each index closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus any coupon unless any index finishes below barrier level, in which case investors will be fully exposed to the loss of the least performing index
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Call: | In whole at par plus any coupon due on any quarterly valuation date at option of issuer
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Initial levels: | 33,999.04 for Dow, 13,505.99 for Nasdaq, 2,000.729 for Russell
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Coupon barriers: | 20,399.42 for Dow, 8,103.59 for Nasdaq, 1,200.44 for Russell; 60% of initial levels
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Final barriers: | 20,399.42 for Dow, 8,103.59 for Nasdaq, 1,200.44 for Russell; 60% of initial levels
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Pricing date: | Aug. 18
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Settlement date: | Aug. 23
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Agent: | Barclays
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Fees: | 1%
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Cusip: | 06748XPB1
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