Published on 1/22/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7.81 million autocallable dual directional notes tied to Nasdaq, Russell
Chicago, Jan. 22 – Barclays Bank plc priced $7.81 million of 0% autocallable dual directional notes due July 21, 2025 linked to the lesser performing of the Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called early at par plus an annualized 11.4% redemption premium if both indexes close above their initial levels. The observation dates are semiannual.
If the notes have not been called, meaning that at least one index has closed below its initial level, but both indexes finish above the 80% buffer level, investors will receive par plus the absolute return of the lesser performing index.
Otherwise, investors will lose 1.25% for each 1% decline beyond the 20% buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable dual directional notes
|
| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $7,805,000
|
| Maturity: | July 21, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 17.1% premium if called; par plus absolute return of lesser performing index if both indexes finishes between 80% and 100% of initial levels; otherwise, 1.25% loss for each 1% decline beyond 20% buffer
|
| Call: | Automatically on semiannual valuation dates at 11.4% annualized rate if both indexes close above initial levels
|
| Initial levels: | 16,820.90 for Nasdaq, 1,955.456 for Russell
|
| Buffer levels: | 13,456.72 for Nasdaq, 1,564.36 for Russell; 80% of initial levels
|
| Buffer: | 20%
|
| Strike date: | Jan. 11
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 19
|
| Agent: | Barclays
|
| Fees: | 0.15%
|
| Cusip: | 06745PKX8
|
|
|
© 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.
