Published on 11/3/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.55 million market-linked securities on Dow, Nasdaq, Russell
Chicago, Nov. 3 – Barclays Bank plc priced $1.55 million of market-linked securities – callable with contingent coupon with daily observation and contingent downside due April 30, 2027 linked to the lowest performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 11% if each index closes at or above its coupon barrier level, 70% of its initial level, on each eligible trading day during the observation period.
The notes will be callable quarterly at par at the issuer’s option.
If each index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par plus any final coupon.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays and Wells Fargo Securities, LLC are the agents.
Issuer: | Barclays Bank plc
|
Issue: | Market-linked securities – callable with contingent coupon with daily observation and contingent downside
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
|
Amount: | $1,554,000
|
Maturity: | April 30, 2027
|
Contingent coupon: | 11% annual rate, payable quarterly if all three indexes close above 70% coupon barrier levels on each eligible trading day during related observation period
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above barrier level, par plus any final coupon; otherwise, 1% loss for each 1% decline of the worst performer from initial level
|
Call: | At par on any quarterly contingent coupon payment date at option of issuer
|
Initial index levels: | 32,417.59 for Dow, 1,636.938 for Russell, 14,180.42 for Nasdaq
|
Coupon barrier levels: | 22,692.313 for Dow, 1,145.8566 for Russell, 9,926.294 for Nasdaq; 70% of initial levels
|
Barrier levels: | 19,450.554 for Dow, 982.1628 for Russell, 8,508.252 for Nasdaq; 60% of initial levels
|
Pricing date: | Oct. 27
|
Settlement date: | Nov. 1
|
Agent: | Barclays and Wells Fargo Securities, LLC
|
Fees: | 1.525%
|
Cusip: | 06745NUX2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.