Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $418,000 autocallable contingent coupon notes on three stocks
Chicago, April 22 – Barclays Bank plc priced $418,000 of autocallable contingent coupon notes due Jan. 28, 2027 linked to the least performing of the of the stocks of NIKE, Inc., Teladoc Health, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 20% if each stock closes above its coupon barrier price, 50% of its initial price, on the related determination date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any monthly call observation date starting after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the 50% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | NIKE, Inc. (Ticker NKE), Teladoc Health, Inc. (Ticker: TDOC) and Walt Disney Co. (Ticker DIS)
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| Amount: | $418,000
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| Maturity: | Jan. 28, 2027
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| Coupon: | 20% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if each stock finishes at or above 50% of its initial share price; otherwise, full exposure to decline of least performing stock from initial share price
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| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date starting after six months
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| Initial share prices: | $101.90 for NIKE, $20.74 for Teladoc, $93.77 for Disney
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| Coupon barrier prices: | $50.95 for NIKE, $10.37 for Teladoc, $46.89 for Disney; 50% of initial levels
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| Final barrier prices: | $50.95 for NIKE, $10.37 for Teladoc, $46.89 for Disney; 50% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | Barclays
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| Fees: | 2%
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| Cusip: | 06745PNG2
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