Published on 9/20/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $525,000 phoenix autocallable notes on three stocks
By Kiku Steinfeld
Chicago, Sept. 20 – Barclays Bank plc priced $525,000 of phoenix autocallable notes due Nov. 1, 2022 linked to the least performing of the common stocks of Walt Disney Co., Netflix, Inc. and Roku, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at a rate of 44.75% per year if each stock closes at or above its barrier price, 70% of its initial price, on the related monthly observation date.
Beginning in April, the notes will be called at par if each stock closes at or above its initial level on any monthly determination date other than the final one.
The payout at maturity will be par unless any stock finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Walt Disney Co., Netflix, Inc. and Roku, Inc.
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| Amount: | $525,000
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| Maturity: | Nov. 1, 2022
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| Coupon: | 44.75%, payable monthly if each stock closes at or above its barrier price on related monthly observation date
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will lose 1% for each 1% decline of worst performer
|
| Call: | Beginning in April, at par if each stock closes at or above its initial level on any monthly determination date other than the final one
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| Initial prices: | $135.42 for Disney, $386.70 for Netflix, $147.82 for Roku
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| Barrier prices: | $94.79 for Disney, $270.69 for Netflix, $103.47 for Roku; 70% of initial prices
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| Pricing date: | Jan. 28
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| Settlement date: | Feb. 2
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| Agent: | Barclays
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| Fees: | 0.2%
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| Cusip: | 06748XCC3
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