E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 7/16/2023 in the Prospect News Structured Products Daily.

New Issue: Barclays sells $1.56 million phoenix autocallable notes on Qualcomm

Chicago, July 17 – Barclays Bank plc priced $1.56 million of phoenix autocallable notes due July 6, 2026 linked to the common stock of Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13.9% if the stock closes at or above its 70% coupon barrier on a related observation date.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly call observation date.

The payout at maturity will be par plus the coupon unless the stock finishes below 70% of its initial value, in which case investors will be fully exposed to the stock’s decline.

Barclays is the agent.

Issuer:Barclays Bank plc
Issue:Phoenix autocallable notes
Underlying stock:Qualcomm Inc.
Amount:$1,556,000
Maturity:July 6, 2026
Coupon:13.9% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
Price:Par
Payout at maturity:Par plus coupon unless stock finishes below final barrier level, in which case full exposure to stock’s decline
Call:At par plus contingent coupon if stock closes at or above its initial level on any quarterly call observation date
Initial level:$117.12
Coupon barrier:$81.98, 70% of initial level
Final barrier:$81.98, 70% of initial level
Pricing date:July 10
Settlement date:July 13
Agent:Barclays
Fees:2%
Cusip:06745MQV3

© 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.