Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $100,000 one star autocallables linked to Tesla, Amazon, Apple
By Angela McDaniels
Tacoma, Wash., Aug. 29 – Barclays Bank plc priced $100,000 of one star autocallable notes due Sept. 10, 2027 linked to the least performing of the common stocks of Tesla, Inc., Amazon.com, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 18.2496% per year if each stock closes at or above its barrier level, 50% of its initial share price, on the observation date for that month.
Beginning in December 2022, the notes will be automatically called at par if each of the stocks closes at or above its initial share price on any monthly observation date.
The payout at maturity will be par unless the final share price of the least performing stock is less than its barrier level and the final share price of the best performing stock is less than its initial share price, in which case investors will lose 1% for every 1% that the least performing stock declines from its initial share price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | One star autocallable notes
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| Underlying stocks: | Tesla, Inc., Amazon.com, Inc. and Apple Inc.
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| Amount: | $100,000
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| Maturity: | Sept. 10, 2027
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| Coupon: | 18.2496% per year, payable monthly if each stock closes at or above barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless final share price of least performing stock is less than barrier level and final share price of best performing stock is less than initial share price, in which case 1% loss for every 1% that least performing stock declines from initial share price
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| Call: | Beginning in December 2022, automatically at par if each of stock closes at or above initial share price on any monthly observation date
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| Initial share prices: | $283.70 for Tesla, $129.48 for Amazon and $155.96 for Apple
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| Barrier levels: | $141.85 for Tesla, $64.74 for Amazon and $77.98 for Apple, or 50% of initial share price
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| Pricing date: | Sept. 7, 2022
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| Settlement date: | Sept. 12, 2022
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| Agent: | Barclays
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| Fees: | 1.15%
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| Cusip: | 06748XRU7
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