Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $925,000 barrier fixed-coupon notes on Dow, Russell, Nasdaq
Chicago, Sept. 26 – Barclays Bank plc priced $925,000 of barrier fixed-coupon notes due Sept. 27, 2023 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 11.05%.
If each index finishes at or above 70% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Barrier fixed-coupon notes
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Underlying indexes: | Nasdaq-100, Dow Jones industrial average, S&P 500 index
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Amount: | $925,000
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Maturity: | Sept. 27, 2023
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Coupon: | 11.05% annually, paid monthly
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any index finishes below barrier level, in which case full exposure to losses of worst performer
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Initial levels: | 1,787.50 for Russell, 11,851.54 for Nasdaq, 30,706.23 for Dow
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Barrier levels: | 1,251.25 for Russell, 8,296.08 for Nasdaq, 21,494.36 for Dow; 70% of initial levels
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Pricing date: | Sept. 22, 2022
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Settlement date: | Sept. 27, 2022
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Agent: | Barclays
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Fees: | 0.2%
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Cusip: | 06748XV57
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