Published on 9/27/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.25 million autocallable contingent coupon notes on four stocks
Chicago, Sept. 27 – Barclays Bank plc priced $1.25 million of autocallable contingent coupon notes due Feb. 9, 2026 linked to the worst performing of DocuSign, Inc., Advanced Micro Devices, Inc., Netflix, Inc. and DraftKings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annualized rate of 27.5% if each stock closes at or above its coupon barrier level, 65% of its initial level, on the related observation date. Previously unpaid coupons will also be paid.
The notes will be automatically called at par if all four stocks close above their initial levels on the any quarterly observation date after one year.
If the notes are not redeemed early, the payout at maturity will be par unless any stock finishes below its 50% final barrier level, in which case investors will be fully exposed to the decline of the least performing stock from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stocks: | DocuSign, Inc., Advanced Micro Devices, Inc., Netflix, Inc. and DraftKings Inc.
|
| Amount: | $1,248,000
|
| Maturity: | Feb. 9, 2026
|
| Contingent coupon: | 27.5% per year, payable monthly if each stock closes at or above coupon barrier on the observation date for that period; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its final barrier level, in which case full exposure to decline of least performing stock from its initial level
|
| Call: | Automatically at par if all stocks close above initial levels on any quarterly observation date after one year
|
| Initial levels: | $118.46 for DocuSign, $123.60 for AMD, $410.17 for Netflix, $21.89 for DraftKings
|
| Coupon barriers: | $77.00 for DocuSign, $80.34 for AMD, $266.61 for Netflix, $14.23 for DraftKings; 65% of initial levels
|
| Final barrier levels: | $59.23 for DocuSign, $61.80 for AMD, $205.08 for Netflix, $10.94 for DraftKings; 50% of initial levels
|
| Pricing date: | Feb. 4
|
| Settlement date: | Feb. 9
|
| Agent: | Barclays
|
| Fees: | 0.85%
|
| Cusip: | 06748XDU2
|
|
|
© 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.
