Published on 4/29/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.87 million callable contingent coupon notes on Dow, Russell, Nasdaq
By Kiku Steinfeld
Chicago, April 29 – Barclays Bank plc priced $1.87 million of callable contingent coupon notes due Feb. 5, 2026 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 9.35% if each index closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes are callable at par monthly starting after three months.
If each index finishes at or above its 60% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the least performing index’s decline from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
|
Amount: | $1,865,000
|
Maturity: | Feb. 5, 2026
|
Contingent coupon: | 9.35% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par if each index finishes at or above final barrier; otherwise, investors will lose 1% for each 1% decline of least performing index
|
Call option: | At par monthly starting after three months
|
Initial levels: | 35,559.53 for Dow, 2,003.177 for Russell and 15,757 for Nasdaq
|
Coupon barrier levels: | 21,335.72 for Dow, 1,201.91 for Russell and 9,454.20 for Nasdaq, or 60% of initial levels
|
Final barrier levels: | 21,335.72 for Dow, 1,201.91 for Russell and 9,454.20 for Nasdaq, or 60% of initial levels
|
Pricing date: | July 31, 2023
|
Settlement date: | Aug. 3, 2023
|
Agent: | Barclays
|
Fees: | 0.7%
|
Cusip: | 06745MVA3
|
|
© 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.