Published on 8/26/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 autocallable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, Aug. 26 – Barclays Bank plc priced $500,000 of autocallable contingent coupon notes due Jan. 17, 2025 linked to the worst performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if each index closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level, on any quarterly valuation date after six months.
At maturity, investors will receive par if all indexes finish at or above 70% of their initial levels.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
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| Amount: | $500,000
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| Maturity: | Jan. 17, 2025
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| Coupon: | 7% annualized rate, payable monthly if each index closes at or above coupon barrier level, on valuation date for that period; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par if all indexes finish at or above final barrier levels; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly valuation date after six months
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| Initial levels: | 4,662.85 for S&P, 2,162.46 for Russell, 4,272.19 for Stoxx
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| Coupon barrier levels: | 3,264.00 for S&P, 1,513.72 for Russell, 2,990.53 for Stoxx; 70% of initial levels
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| Final barrier levels: | 3,264.00 for S&P, 1,513.72 for Russell, 2,990.53 for Stoxx; 70% of initial levels
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| Pricing date: | Jan. 19, 2022
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| Settlement date: | Jan. 24, 2022
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| Agent: | Barclays
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| Fees: | 1%
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| Cusip: | 06748X6K2
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