Published on 8/31/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.57 million buffered autocallable contingent coupon notes on indexes
Chicago, Aug. 31 – Barclays Bank plc priced $1.57 million of buffered autocallable contingent coupon notes due Aug. 29, 2024 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 12.75% if each index closes at or above its 80% coupon barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par plus the final coupon unless any index falls below 80%, in which case investors will lose 1% for each 1% decline of the worse performing index beyond the 20% buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $1,565,000
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| Maturity: | Aug. 29, 2024
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| Contingent coupon: | 12.75% annual rate, payable quarterly if each index closes at or above coupon barrier level on the determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any index falls below buffer level, in which case investors will lose 1% for each 1% decline of the worse performing index beyond 20% buffer
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly determination date after six months
|
| Initial index levels: | 4,057.66 for S&P, 12,605.17 for Nasdaq, 1,899.83 for Russell
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| Coupon barrier/buffer levels: | 3,246.13 for S&P, 10,084.14 for Nasdaq, 1,519.86 for Russell; 80% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | Barclays
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| Fees: | 0.5%
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| Cusip: | 06748XQJ3
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