Published on 10/24/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $64,000 autocallable contingent coupon notes on three indexes
Chicago, Oct. 24 – Barclays Bank plc priced $64,000 of autocallable contingent coupon notes due Nov. 16, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 9% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date after three months.
If the notes have not been called, investors will receive par if all three indexes close above their initial levels or no index closes below its 70% barrier level during the life of the notes.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $64,000
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| Maturity: | Nov. 16, 2023
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| Coupon: | 9% annual rate, payable monthly if each index closes at or above coupon barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | Par if all indexes close above initial levels; par if no index closes below barrier level during life of notes; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date after three months
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| Initial levels: | 4,418.64 for S&P, 14,253.84 for Nasdaq, 2,030.15 for Russell
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| Coupon barrier: | 3,093.05 for S&P, 9,977.69 for Nasdaq, 1,421.11 for Russell; 70% of initial levels
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| Barrier levels: | 3,093.05 for S&P, 9,977.69 for Nasdaq, 1,421.11 for Russell; 70% of initial levels
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| Pricing date: | Feb. 11
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| Settlement date: | Feb. 16
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| Agent: | Barclays
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| Fees: | 2.175%
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| Cusip: | 06748XE72
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