Published on 12/1/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $750,000 autocallable contingent coupon notes on Tesla
Chicago, Dec. 1 – Barclays Bank plc priced $750,000 of autocallable contingent coupon notes due Oct. 30, 2025 linked to the common shares of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 23.5% if the stock closes at or above its coupon trigger level, 60% of the initial price, on the determination date for that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 60% trigger level, in which case investors will have full exposure to the decline in the stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stock: | Tesla, Inc.
|
| Amount: | $750,000
|
| Maturity: | Oct. 30, 2025
|
| Coupon: | 23.5% per year, payable quarterly if shares close at or above coupon trigger level on a related determination date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless the stock finishes below its trigger level, in which case full exposure to loss
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
|
| Initial share price: | $224.64
|
| Coupon trigger level: | $134.78; 60% of initial share price
|
| Trigger level: | $134.78; 60% of initial share price
|
| Pricing date: | Oct. 26, 2022
|
| Settlement date: | Oct. 31, 2022
|
| Agent: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06748XZK0
|
|
|
© 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.
