Published on 9/18/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million 8.05% fixed coupon barrier notes on PepsiCo, S&P MidCap 400
By Wendy Van Sickle
Columbus, Ohio, Sept. 18 – Barclays Bank plc priced $1 million of 8.05% fixed coupon barrier notes due March 25, 2025 linked to the least performing of the S&P MidCap 400 index and the stock performance of PepsiCo, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the least-performing asset finishes at or above the 65% downside threshold level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed coupon barrier notes
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| Underlying asset: | PepsiCo, Inc. and S&P MidCap 400 index
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| Amount: | $1,002,000
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| Maturity: | March 25, 2025
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| Coupon: | 8.05%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the least-performing asset’s final level is less than the downside threshold, in which case investors will have full exposure to decline of least-performing asset.
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| Initial levels: | $178.93 for PepsiCo, 2,577.72 for index
|
| Downside threshold: | $116.30 for PepsiCo, 1,675.52 for index; 65% of initial level
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| Pricing date: | Sept. 13
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| Settlement date: | Sept. 18
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| Agent: | Barclays
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| Fees: | 0.3%
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| Cusip: | 06745NJG2
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