Published on 3/31/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.63 million autocallable notes on Russell, Nasdaq, S&P
By William Gullotti
Buffalo, N.Y., March 31 – Barclays Bank plc priced $2.63 million of autocallable notes due March 29, 2027 linked to the performance 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 be automatically called at par plus an annualized 11.75% call premium if the indexes close above their initial levels on any annual valuation date.
If the notes are not called and each index finishes at or above the 75% barrier level, the payout at maturity will be par plus 47%.
Otherwise, investors will be fully exposed to the worst performer’s decline from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying assets: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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Amount: | $2,633,000
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Maturity: | March 29, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 47% unless any index finishes below 75% of its initial level, in which case investors will be fully exposed to the loss of the least performing index
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Call: | Automatically at par plus an annualized 11.75% call premium if each index closes above initial level on any annual valuation date
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Initial levels: | 3,970.99 for S&P, 12,767.05 for Nasdaq, 1,734.923 for Russell
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Final barriers: | 2,978.24 for S&P, 9,575.29 for Nasdaq, 1,301.19 for Russell; 75% of initial levels
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Pricing date: | March 24
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Settlement date: | March 29
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Agent: | Barclays
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Fees: | 0.65%
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Cusip: | 06749NVZ2
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