Published on 9/27/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.53 million callable contingent coupon notes on Russell, Gold Miners, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – Barclays Bank plc priced $3.53 million of callable contingent coupon notes due Dec. 27, 2023 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 24.35% if each asset closes at or above its coupon barrier level, 65% of its initial level, on the related observation date.
The notes will be callable in whole at par on any monthly potential redemption date after six months.
If the notes are not redeemed early, the payout at maturity will be par unless any asset closes below 65% of its initial level any day during the life of the notes and any asset finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing asset from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index, VanEck Vectors Gold Miners ETF
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| Amount: | $3,525,000
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| Maturity: | Dec. 27, 2023
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| Contingent coupon: | 24.35% per year, payable monthly if each asset closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset closes below barrier level any day during life of notes and any asset finishes below initial level, in which case full exposure to decline of least performing asset from its initial level
|
| Call option: | At par on any monthly potential redemption date after six months
|
| Initial levels: | $23.83 for Gold Miners, 11,637.79 for Nasdaq, 1,762.158 for Russell
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| Coupon barriers: | $15.49 for Gold Miners, 7,564.56 for Nasdaq, 1,145.4 for Russell; 65% of initial levels
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| Barrier levels: | $15.49 for Gold Miners, 7,564.56 for Nasdaq, 1,145.4 for Russell; 65% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 26
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| Agent: | Barclays
|
| Fees: | 0.25%
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| Cusip: | 06748XUK5
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