Published on 12/1/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $623,000 9% autocallable fixed coupon notes on three stocks
By Kiku Steinfeld
Chicago, Dec. 1 – Barclays Bank plc priced $623,000 of 9% autocallable fixed coupon notes due April 23, 2026 linked to the least performing of the common stocks of Citigroup Inc., DocuSign, Inc. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par if each stock finishes at or above its 60% trigger value. If the least performing stock closes below its trigger value but the best performing stock closes at or above its initial level, the payout will be par. If the least performing stock closes below its trigger value and the best performing stock closes below its initial level, investors will be exposed to the losses of the least performer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed coupon notes
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| Underlying stocks: | Citigroup Inc., DocuSign, Inc. and Meta Platforms, Inc.
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| Amount: | $623,000
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| Maturity: | April 23, 2026
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| Coupon: | 9% per annum, paid monthly
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| Price: | Par
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| Payout at maturity: | Par if each stock finishes at or above its trigger value; if least performing stock closes below its trigger value and best performing stock closes at or above its initial level, par; otherwise, 1% loss for each 1% decline of least performing stock from initial level
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| Call: | Automatically at par if each stock closes at or above initial level on any quarterly review date
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| Initial levels: | $50.40 for Citi, $53.05 for DocuSign, $215.70 for Meta
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| Trigger levels: | $30.24 for Citi, $31.83 for DocuSign, $129.42 for Meta; 60% of initial levels
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| Pricing date: | April 19, 2023
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| Settlement date: | April 24, 2023
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| Agent: | Barclays
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| Fees: | 3.5%
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| Cusip: | 06745M2P2
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