Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 phoenix autocallable notes linked to three stocks
Chicago, Aug. 29 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Aug. 22, 2024 linked to the least performing of the stocks of Shopify Inc., Amazon.com, Inc. and Walt Disney Co., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 30% if each stock closes at or above its 50% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call observation date.
If the notes are not called and each stock finishes at or above its 50% barrier level, the payout will be par. Otherwise, investors will be fully exposed to the 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 stocks: | Shopify Inc., Amazon.com, Inc. and Walt Disney Co.
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| Amount: | $500,000
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| Maturity: | Aug. 22, 2024
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| Coupon: | 30% annualized, payable quarterly if each stock closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above final barrier, par; otherwise, lose 1% for every 1% decline of the worst performer from initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly observation date
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| Initial levels: | $37.30 for Shopify, $142.10 for Amazon, $122.81 for Disney
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| Coupon barriers: | $18.65 for Shopify, $71.05 for Amazon, $61.41 for Disney; 50% of initial levels
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| Final barriers: | $18.65 for Shopify, $71.05 for Amazon, $61.41 for Disney; 50% of initial levels
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| Pricing date: | Aug. 22, 2022
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| Settlement date: | Aug. 25, 2022
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| Agent: | Barclays
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| Fees: | 0.65%
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| Cusip: | 06748XPJ4
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