Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.64 million autocallable contingent coupon barrier notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – Barclays Bank plc priced $2.64 million of autocallable contingent coupon barrier notes due Nov. 18, 2027 linked to the performance of the stocks of Apple Inc., Amazon.com, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 18.75% per year if the worst performing index closes at or above its trigger level, 50% of its initial level, on the relevant observation date.
The notes will be called at par plus coupon if the worst performing index closes at or above its initial level on any monthly observation date after three months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the worst performing index finishes below its trigger level, in which case investors will be fully exposed to the decline of the worst performing index from its initial level.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | autocallable contingent coupon barrier notes
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| Underlying indexes: | Amazon.com, Inc., Tesla, Inc., Apple Inc.
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| Amount: | $2,641,000
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| Maturity: | Nov. 18, 2027
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| Coupon: | 18.75%, payable monthly if worst performing index closes at or above trigger level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above the trigger level, par plus the final coupon; otherwise, investors will be fully exposed to the worst performing index from its initial level
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| Call: | At par plus coupon if each index closes at or above initial level on any monthly observation date after three months
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| Initial levels: | $98.94 for Amazon, $194.42 for Tesla, $150.04 for Apple
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| Trigger levels: | $49.47 for Amazon, $97.21 for Tesla, $75.02 for Apple; 50% of initial levels
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 18
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| Agent: | Barclays Capital Inc.
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| Fees: | 1.15%
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| Cusip: | 06749N3X8
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