Published on 3/4/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $380,000 of 8.5% autocallable variable coupon notes on three stocks
By Kiku Steinfeld
Chicago, March 6 – Barclays Bank plc priced $380,000 of 8.5% autocallable variable coupon notes due Nov. 26, 2027 linked to the least performing of the common stocks of Amazon.com, Inc., Boeing Co. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 8% if each stock closes above its coupon barrier price, 70% of its initial price, on a related determination date. Otherwise, the monthly coupon will be paid at a rate of 0.25% per annum.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any monthly valuation date after one year.
If the notes are not called, the payout at maturity will be par plus the relevant coupon.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable variable coupon notes
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| Underlying stocks: | Amazon.com, Inc., Boeing Co. and Target Corp.
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| Amount: | $380,000
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| Maturity: | Nov. 26, 2027
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| Coupon: | 8.5% annual rate if closing price of each stock is greater than or equal to coupon barrier on related observation date, otherwise, 0.25% annual rate; payable monthly
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| Price: | Par
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| Payout at maturity: | If notes are not called, par plus relevant coupon
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| Call: | At par plus coupon if closing level of least performing stock is greater than or equal to its initial level on any monthly valuation date after one year
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| Initial prices: | $93.20 for Amazon, $172.50 for Boeing, $157.86 for Target
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| Barrier prices: | $65.24 for Amazon, $120.75 for Boeing, $110.50 for Target, 70% of initial prices
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| Pricing date: | Nov. 22, 2022
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| Settlement date: | Nov. 28, 2022
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| Agent: | Barclays
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| Fees: | 3.75%
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| Cusip: | 06749N4H2
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