Published on 10/18/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.9 million autocallable fixed coupon notes on four stocks
Chicago, Oct. 18 – Barclays Bank plc priced $1.9 million of 11.5% autocallable fixed-coupon notes due Oct. 16, 2025 linked to the least performing of the common stocks of BlackRock, Inc., Blackstone Inc., Goldman Sachs Group, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any monthly review date after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level, payable in shares.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stocks: | BlackRock, Inc., Blackstone Inc., Goldman Sachs Group, Inc. and Wells Fargo & Co.
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| Amount: | $1.9 million
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| Maturity: | Oct. 16, 2025
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| Coupon: | 11.5% per annum, paid monthly
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| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of least performing stock from initial level, payable in shares of that stock, payable in shares
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly review date after six months
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| Initial levels: | $642.67 for BlackRock, $107.27 for Blackstone, $313.02 for Goldman, $39.69 for Wells Fargo
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| Trigger levels: | $321.34 for BlackRock, $53.64 for Blackstone, $156.51 for Goldman, $19.85 for Wells Fargo; 50% of initial levels
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| Share delivery amounts: | 1.55601 for BlackRock, 9.32227 for Blackstone, 3.19468 for Goldman, 25.19526 for Wells Fargo
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 16
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| Agent: | Barclays
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| Fees: | 3%
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| Cusip: | 06744EAP2
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