Published on 1/22/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.25 million autocallable fixed coupon notes on four stocks
Chicago, Jan. 22 – Barclays Bank plc priced $5.25 million of 10% autocallable fixed-coupon notes due Jan. 21, 2026 linked to the least performing of the common stocks of Microsoft Corp., UnitedHealth Group Inc., Boeing Co. and Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any monthly review date after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level, payable in shares or cash at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable fixed-coupon notes
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| Underlying stocks: | Microsoft Corp., UnitedHealth Group Inc., Boeing Co. and Charles Schwab Corp.
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| Amount: | $5,250,000
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| Maturity: | Jan. 21, 2026
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| Coupon: | 10% per annum, paid monthly
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| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of least performing stock from initial level, payable in shares of that stock, or cash at the issuer’s option
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly review date after six months
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| Initial levels: | $390.27 for Microsoft, $519.15 for UnitedHealth, $200.52 for Boeing, $64.31 for Schwab
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| Trigger levels: | $195.14 for Microsoft, $259.58 for UnitedHealth, $100.26 for Boeing, $32.16 for Schwab; 50% of initial levels
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| Share delivery amounts: | 2.56233 for Microsoft, 1.92623 for UnitedHealth, 4.98703 for Boeing, 15.54968 for Schwab
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | Barclays
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| Fees: | 3%
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| Cusip: | 06744ECU9
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