E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/30/2024 in the Prospect News Structured Products Daily.

New Issue: Barclays sells $1.05 million autocallable contingent coupon barrier notes on three stocks

Chicago, April 30 – Barclays Bank plc priced $1.05 million of autocallable contingent coupon barrier notes due Jan. 29, 2027 linked to the worst performing of the stocks of Apple Inc., Nvidia Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at an annualized rate of 13% if each stock closes at or above its coupon barrier level, 60% of its initial level, on the related observation date. Previously unpaid coupons will also be paid.

The notes will be automatically called at par plus coupon if each stock closes at or above its initial level on any monthly call observation date after six months.

If the notes are not called and each stock finishes at or above its coupon barrier level, the payout at maturity will be par plus the final coupon.

If the worst performer finishes below its coupon barrier but at or above its final barrier price, 50% of its initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

Barclays is the underwriter.

Issuer:Barclays Bank plc
Issue:Autocallable contingent coupon barrier notes
Underlying stocks:Apple Inc., Nvidia Corp. and Tesla, Inc.
Amount:$1,045,000
Maturity:Jan. 29, 2027
Contingent coupon:13% per year, payable monthly if each stock closes at or above coupon barrier related observation date; previously unpaid coupons will also be paid
Price:Par
Payout at maturity:If each stock finishes at or above its coupon barrier, par plus the final coupon; if the worst performer finishes below its coupon barrier but at or above its final barrier, par; otherwise, investors will be fully exposed to the laggard stock’s decline from its initial level
Call:Automatically at par plus coupon if each stock closes at or above its initial level on any monthly call observation date after six months
Initial levels:$192.42 for Apple, $610.31 for Nvidia, $183.25 for Tesla
Coupon barriers:$115.45 for Apple, $366.19 for Nvidia, $109.95 for Tesla; 60% of initial levels
Final barriers:$96.21 for Apple, $305.16 for Nvidia, $91.63 for Tesla; 50% of initial levels
Pricing date:Jan. 26
Settlement date:Jan. 31
Agent:Barclays
Fees:0.75%
Cusip:06745PNK3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.