Published on 4/5/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.93 million autocallable variable coupon notes linked to three stocks
By William Gullotti
Buffalo, N.Y., April 5 – Barclays Bank plc priced $2.93 million of autocallable variable coupon notes due March 30, 2028 linked to the stock performance of Advanced Micro Devices, Inc., Boeing Co. and Alphabet Inc., 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, 80% 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: | Advanced Micro Devices, Inc., Boeing Co., Alphabet Inc.
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| Amount: | $2.93 million
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| Maturity: | March 30, 2028
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| Coupon: | 8.25% 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: | $96.61 for AMD, $200.57 for Boeing, $103.06 for Alphabet
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| Barrier prices: | $77.29 for AMD, $160.46 for Boeing, $82.45 for Alphabet, 80% of initial prices
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| Pricing date: | March 27
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| Settlement date: | March 30
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| Agent: | Barclays
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| Fees: | 3.9%
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| Cusip: | 06749NWU2
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