Published on 6/7/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.14 million buffered autocallable contingent coupon notes on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, June 7 – Barclays Bank plc priced $4.14 million of buffered autocallable contingent coupon notes due May 30, 2025 linked to the least performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at a 5.95% annualized rate if each index closes at or above its 75% coupon barrier value on the related observation date.
The notes will be automatically called at par plus coupon if each index closes at or above 90% of its initial level on any quarterly call observation date after one year.
The payout at maturity will be par if each index finishes at or above 80% of initial level, otherwise investors will lose 1 % for each 1% decline of that index beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Buffered autocallable contingent coupon notes
|
Underlying indexes: | Russell 2000 index, Nasdaq-100 index
|
Amount: | $4,144,000
|
Maturity: | May 30, 2025
|
Contingent coupon: | 5.95% annual rate, payable quarterly if each index closes at or above coupon barrier level on related observation date
|
Price: | Par
|
Payout at maturity: | Par unless an index finishes below buffer level; in which case 1 % loss for each 1% decline of the worst performer beyond buffer
|
Call: | At par plus coupon if each index closes at or above 90% of initial level on any quarterly observation date after one year
|
Initial levels: | 14,298.41 for Nasdaq, 1,773.022 for Russell
|
Call value: | 12,868.57 for Nasdaq, 1,595.72 for Russell; 90% of initial levels
|
Coupon barrier levels: | 10,723.81 for Nasdaq, 1,329.77 for Russell; 75% of initial levels
|
Buffer levels: | 11,438.73 for Nasdaq, 1,418.42 for Russell; 80% of initial levels
|
Pricing date: | May 26
|
Settlement date: | May 31
|
Agent: | Barclays
|
Fees: | 2.6%
|
Cusip: | 06745MDT2
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.