Published on 5/5/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.7 million trigger autocallable contingent yield notes on two indexes
Chicago, May 5 – Barclays Bank plc priced $3.7 million of trigger autocallable contingent yield notes due April 23, 2026 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.83% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if each index closes at or above their initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the coupon if each index finishes at or above its 70% downside threshold, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the laggard index from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index
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Amount: | $3,700,000
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Maturity: | April 23, 2026
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Coupon: | 10.83% annual rate, payable quarterly if each index closes at or above coupon barrier on observation date
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Price: | Par of $10
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Payout at maturity: | Par plus the coupon if each index finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of the laggard index from initial level
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Call: | At par plus the coupon if each index closes at or above their initial levels on any quarterly observation date after six months
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Initial levels: | 33,530.83 for Dow, 12,725.11 for Nasdaq
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Coupon barriers: | 23,471.58 for Dow, 8,907.58 for Nasdaq; 70% of initial levels
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Downside thresholds: | 23,471.58 for Dow, 8,907.58 for Nasdaq; 70% of initial levels
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Pricing date: | April 25
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Settlement date: | April 28
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 0%
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Cusip: | 06748G827
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