Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.25 million autocallable contingent coupon notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 12 – Barclays Bank plc priced $1.25 million of autocallable contingent coupon notes due Dec. 4, 2025 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each index closes at or above its 60% coupon barrier on a related observation date, plus any previously unpaid coupons.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly valuation date after six months.
The payout at maturity will be par if each index finishes at or above its 60% final barrier.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1.25 million
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| Maturity: | Dec. 4, 2025
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| Coupon: | 8% annualized, payable monthly if each index closes at or above coupon barrier on related observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above its final barrier; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly valuation date after six months
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| Initial levels: | 4,594.63 for S&P, 15,997.58 for Nasdaq, 1,862.641 for Russell
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| Coupon barriers: | 2,756.78 for S&P, 9,598.55 for Nasdaq, 1,117.58 for Russell; 60% of initial levels
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| Final barriers: | 2,756.78 for S&P, 9,598.55 for Nasdaq, 1,117.58 for Russell; 60% of initial levels
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| Pricing date: | Dec. 1
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| Settlement date: | Dec. 6
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| Agent: | Barclays
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| Fees: | 0.4%
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| Cusip: | 06745P5Y3
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