New Issue: Barclays prices $499,000 phoenix autocallables linked to United Rentals

By Angela McDaniels

Tacoma, Wash., Feb. 9 – Barclays Bank plc priced $499,000 of phoenix autocallable notes due Oct. 31, 2024 linked to the common stock of United Rentals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 13.5% per year if the stock closes at or above the barrier price, 65% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the barrier level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	United Rentals, Inc.
Amount:	$499,000
Maturity:	Oct. 31, 2024
Coupon:	13.5% per year, payable quarterly if stock closes at or above barrier price on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless final share price is less than barrier level, in which case 1% loss for every 1% that final share price is less than initial share price
Call:	Automatically at par if stock closes at or above initial share price on any quarterly observation date
Initial share price:	$361.11
Barrier price:	$234.72, or 65% of initial share price
Pricing date:	April 28, 2023
Settlement date:	May 3, 2023
Agent:	Barclays
Fees:	2.75%
Cusip:	06745M6N3

© 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.