Published on 2/6/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $310,000 autocallable fixed-coupon notes on Carnival
Chicago, Feb. 6 – Barclays Bank plc priced $310,000 of 17% autocallable fixed-coupon notes due May 22, 2025 linked to the common stock of Carnival Corp. & plc, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par of $10,000 if the stock closes at or above its initial level on any monthly call valuation date after six months
If the notes are not called, the payout at maturity will be par unless the stock finishes below 60% of its initial level, in which cases investors will receive a number of shares per note equal to $10,000 divided by the stock’s initial level or the cash equivalent.
Barclay is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable fixed-coupon notes
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Underlying stock: | Carnival Corp. & plc
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Amount: | $310,000
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Maturity: | May 22, 2025
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Coupon: | 17% per year, payable monthly
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Price: | Par of $10,000
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Payout at maturity: | Par unless stock finishes below barrier level, in which case investors will receive 905.7971 shares per note or the cash equivalent at the issuer’s option
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Call: | At par if stock closes at or above initial level on any monthly call valuation date after six months
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Initial level: | $11.04
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Barrier level: | $6.62; 60% of initial level
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Pricing date: | May 17, 2023
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Settlement date: | May 22, 2023
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06741W4S6
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