Published on 9/13/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $10.04 million buffered autocallable fixed-coupon notes on Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 13 – Barclays Bank plc priced $10.04 million of buffered autocallable fixed-coupon notes due March 10, 2025 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 8.2% per year and will be payable semiannually.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par unless either index finishes below 75% of its initial level, in which case the payout will be par minus 1.3333% for every 1% that the lesser-performing index declines beyond 25%.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable fixed-coupon notes
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Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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Amount: | $10,035,000
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Maturity: | March 10, 2025
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Coupon: | 8.2%, payable semiannually
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Price: | Par
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Call: | At par if each index closes at or above initial level on valuation date
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Payout at maturity: | Par unless either index finishes below 75% of its initial level, in which case par minus 1.3333% for every 1% that lesser-performing index declines beyond 25%
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Initial levels: | 1,880.45 for Russell and 15,508.24 for Nasdaq-100
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Buffer levels: | 1,410.34 for Russell and 11,631.18 for Nasdaq-100; 75% of initial levels
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Pricing date: | Sept. 7
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Settlement date: | Sept. 12
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Agent: | Barclays
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Fees: | 0.38%
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Cusip: | 06745NHB5
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