Published on 9/7/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.55 million one star autocallable notes on Tesla, Amazon, Apple
By William Gullotti
Buffalo, N.Y., Sept. 7 – Barclays Bank plc priced $2.55 million of one star autocallable notes due Sept. 3, 2027 linked to the stocks of Tesla, Inc., Amazon.com, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 18.251% if each stock closes at or above its coupon barrier level, 50% of its initial level, on the related observation date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any monthly call observation date after three months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the best performing stock finishes below its initial level and the worst performing stock finishes below its barrier price, 50% of its initial level, in which case investors will be exposed to the worst performing stock’s decline from its initial level.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | One star autocallable notes
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| Underlying stocks: | Tesla, Inc., Amazon.com, Inc., Apple Inc.
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| Amount: | $2,552,000
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| Maturity: | Sept. 3, 2027
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| Contingent coupon: | 18.251% per year, payable monthly if each stock closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless best performing stock finishes below initial level and worst performing stock finishes below barrier price, in which case exposure to worst performing stock’s decline from initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly call observation date after three months
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| Initial levels: | $277.70 for Tesla, $128.73 for Amazon, $158.91 for Apple
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| Coupon barriers: | $138.85 for Tesla, $64.37 for Amazon, $79.46 for Apple; 50% of initial levels
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| Barrier prices: | $138.85 for Tesla, $64.37 for Amazon, $79.46 for Apple; 50% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Agent: | Barclays
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| Fees: | 1.15%
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| Cusip: | 06748XM81
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