Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.45 million buffered autocallable contingent coupon notes on indexes
By William Gullotti
Buffalo, N.Y., Oct. 26 – Barclays Bank plc priced $3.45 million of buffered autocallable contingent coupon notes due Sept. 19, 2025 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of at a 12.15% annualized rate if each index closes at or above its 75% coupon barrier value on the related observation date.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par plus the final coupon if each index finishes at or above 75% of initial level.
Otherwise, investors will lose 1.333333% for each 1% decline of the worst performer beyond 25%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable contingent coupon notes
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Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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Amount: | $3.45 million
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Maturity: | Sept. 19, 2025
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Contingent coupon: | 12.15% annual rate, payable monthly if each index closes at or above coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon unless an index finishes below buffer level, in which case 1.333333% loss for each 1% decline of the worst performer beyond the 25% buffer
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Call: | At par plus coupon if each index closes at or above initial level on any monthly observation date after six months
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Initial levels: | 3,873.33 for S&P, 11,861.38 for Nasdaq, 1,798.19 for Russell
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Coupon barrier levels: | 2,905.0 for S&P, 8,896.04 for Nasdaq, 1,348.64 for Russell; 75% of initial levels
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Buffer levels: | 2,905.0 for S&P, 8,896.04 for Nasdaq, 1,348.64 for Russell; 75% of initial levels
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Pricing date: | Sept. 16
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Settlement date: | Sept. 21
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06748XSA0
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