Published on 4/30/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.63 million autocallable variable coupon notes linked to three stocks
By Wendy Van Sickle
Columbus, Ohio, April 30 – Barclays Bank plc priced $4.63 million of autocallable variable coupon notes due April 27, 2029 linked to the stock performance of Advanced Micro Devices, Inc., Palantir Technologies Inc. and Enphase Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 10.25% if each stock closes above its coupon barrier price, 65% 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., Palantir Technologies Inc., Enphase Energy, Inc.
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Amount: | $4,629,000
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Maturity: | April 27, 2029
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Coupon: | 10.25% 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: | $151.74 for Advanced Micro, $21.59 for Palantir, $107.17 for Enphase Energy
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Barrier prices: | $98.63 for Advanced Micro, $14.03 for Palantir, $69.66 for Enphase Energy, 65% of initial prices
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Pricing date: | April 24
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Settlement date: | April 29
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Agent: | Barclays
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Fees: | 3.75%
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Cusip: | 06745QLA5
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