Published on 12/13/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.93 million phoenix autocallable notes on two indexes, SPDR ETF
By William Gullotti
Buffalo, N.Y., Dec. 13 – Barclays Bank plc priced $1.93 million of phoenix autocallable notes due Sept. 5, 2025 linked to the least performing of the Utilities Select Sector SPDR Fund, 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 10.4% if each underlier closes at or above its 70% coupon barrier on a related observation date.
After three months, the notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any monthly call observation date.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above 70% of its initial value.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Utilities Select Sector SPDR Fund, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,931,000
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| Maturity: | Sept. 5, 2025
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| Coupon: | 10.4% annualized, payable monthly if each underlier closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each underlier finishes at or above its final barrier; otherwise, 1% loss for each 1% decline of the worst performer from initial level
|
| Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any monthly call observation date after three months
|
| Initial levels: | 15,947.87 for Nasdaq, 1,809.02 for Russell, $62.76 for ETF
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| Coupon barriers: | 11,163.51 for Nasdaq, 1,266.31 for Russell, $43.93 for ETF; 70% of initial levels
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| Final barriers: | 11,163.51 for Nasdaq, 1,266.31 for Russell, $43.93 for ETF; 70% of initial levels
|
| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
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| Agent: | Barclays
|
| Fees: | 0.55%
|
| Cusip: | 06745NZT6
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