Published on 7/21/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $510,000 callable contingent coupon notes on indexes, ETF
Chicago, July 21 – Barclays Bank plc priced $510,000 of callable contingent coupon notes due July 16, 2026 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 10.7% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly call date after three months.
If the notes are not redeemed early and each underlier finishes at or above its 50% final barrier level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
|
| Amount: | $510,000
|
| Maturity: | July 16, 2026
|
| Contingent coupon: | 10.7% per year, payable monthly if each underlier closes at or above coupon barrier on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the final level of each underlier is greater than or equal to its final barrier, par plus any final coupon; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | In whole at par plus any coupon due on any monthly call date after three months
|
| Initial levels: | $67.11 for ETF, 1,950.891 for Russell, 15,571.98 for Nasdaq
|
| Coupon barriers: | $46.98 for ETF, 1,365.62 for Russell, 10,900.39 for Nasdaq; 70% of initial levels
|
| Final barrier levels: | $33.56 for ETF, 975.45 for Russell, 7,785.99 for Nasdaq; 50% of initial levels
|
| Pricing date: | July 13
|
| Settlement date: | July 18
|
| Agent: | Barclays
|
| Fees: | 0.7%
|
| Cusip: | 06745MRR1
|
© 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.
