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Published on 8/22/2023 in the Prospect News Structured Products Daily.

New Issue: Barclays sells $3.09 million callable contingent coupon notes on Russell, Dow, Nasdaq

By William Gullotti

Buffalo, N.Y., Aug. 22 – Barclays Bank plc priced $3.09 million of callable contingent coupon notes due Aug. 5, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at an annualized rate of 10% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.

The notes will be callable in whole at par plus any coupon due on any monthly call date after three months.

If the notes are not redeemed early and each index finishes at or above its 70% final barrier level, the payout at maturity will be par plus the final coupon.

Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.

Barclays is the agent.

Issuer:Barclays Bank plc
Issue:Callable contingent coupon notes
Underlying indexes:Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
Amount:$3,086,000
Maturity:Aug. 5, 2024
Contingent coupon:10% per year, payable monthly if each index closes at or above coupon barrier on the observation date for that period
Price:Par
Payout at maturity:Par plus final coupon if each index finishes at or above final barrier level; otherwise, full exposure to decline of the worst performer from its initial level
Call option:In whole at par plus any coupon due on any monthly call date after three months
Initial levels:15,757.0 for Nasdaq, 35,559.53 for Dow, 2,003.177 for Russell
Coupon barriers:11,029.9 for Nasdaq, 24,891.67 for Dow, 1,402.22 for Russell; 70% of initial levels
Final barrier levels:11,029.9 for Nasdaq, 24,891.67 for Dow, 1,402.22 for Russell; 70% of initial levels
Pricing date:July 31
Settlement date:Aug. 3
Agent:Barclays
Fees:0.6%
Cusip:06745MVT2

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