Published on 9/21/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $961,000 phoenix autocallable notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Sept. 21 – Barclays Bank plc priced $961,000 of phoenix autocallable notes due Aug. 3, 2023 linked to the least performing of 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 at an annual rate of 8.25% if each index closes at or above its 75% coupon barrier on a related observation date.
The notes will be called at par 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 unless any index finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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Amount: | $961,000
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Maturity: | Aug. 3, 2023
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Coupon: | 8.25% annualized, payable monthly if each index closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing index from its initial level
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Call: | Automatically at par if each index closes at or above initial level on any monthly call observation date after six months
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Initial levels: | 2,028.45 for Russell, 14,930.05 for Nasdaq
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Coupon barriers: | 1,521.34 for Russell, 11,197.54 for Nasdaq; 75% of initial levels
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Final barriers: | 1,521.34 for Russell, 11,197.54 for Nasdaq; 75% 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: | 1.15%
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Cusip: | 06748X3R0
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