Published on 4/29/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million autocallable notes on indexes
Chicago, April 29 – Barclays Bank plc priced $1 million of 0% autocallable notes due Jan. 31, 2029 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 11.25% annualized premium if each index closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par plus 56.25% if each index finishes at or above its initial level.
Investors will receive par if the worst performer declines but not more than 30%.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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Amount: | $1,000,000
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Maturity: | Jan. 31, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 56.25% if called; par if worst performer declines but not more than 30%; otherwise, 1% loss for each 1% decline from initial level
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Call: | Automatically at par plus 11.25% annualized premium if each index closes at or above initial level on any quarterly call observation date after one year
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Initial levels: | 1,978.331 for Russell, 17,421.01 for Nasdaq, 38,109.43 for Dow
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Final barriers: | 1,384.83 for Russell, 12,194.71 for Nasdaq, 26,676.60 for Dow; 70% of initial levels
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06745PN56
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