Published on 9/21/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $350,000 buffered autocallable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, Sept. 21 – Barclays Bank plc priced $350,000 of buffered autocallable contingent coupon notes due Feb. 5, 2024 linked to the least performing of 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 monthly coupon of at a 8.2% annualized rate if each index closes at or above its 80% coupon barrier value on the related observation date.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par plus the final coupon if each index finishes at or above 80% of initial level, otherwise investors will lose 1% for each 1% decline of that index beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $350,000
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| Maturity: | Feb. 5, 2024
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| Contingent coupon: | 8.2% annual rate, payable monthly if each index closes at or above coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless an index finishes below buffer level; in which case 1% loss for each 1% decline of the worst performer beyond the 20% buffer
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| Call: | At par plus coupon if each index closes at or above initial level on any monthly observation date after six months
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| Initial levels: | 4,515.55 for S&P, 2,028.453 for Russell, 14,930.05 for Nasdaq
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| Coupon barrier levels: | 3,612.44 for S&P, 1,622.76 for Russell, 11,944.04 for Nasdaq; 80% of initial levels
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| Buffer levels: | 3,612.44 for S&P, 1,622.76 for Russell, 11,944.04 for Nasdaq; 80% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Agent: | Barclays
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| Fees: | 0.7%
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| Cusip: | 06748X7M7
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