Published on 3/17/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $500,000 phoenix autocallable notes on three stocks
By Kiku Steinfeld
Chicago, March 17 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Dec. 4, 2024 linked to the least performing of the stocks of Shopify Inc., Amazon.com, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 30.5% per year if each stock closes at or above its barrier price, 60% of its initial price, on the related quarterly observation date.
The notes will be called at par if each stock closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par unless any stock finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stocks: | Shopify Inc., Amazon.com, Inc. and Walt Disney Co.
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| Amount: | $500,000
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| Maturity: | Dec. 4, 2024
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| Coupon: | 30.5%, payable quarterly if each stock closes at or above its barrier price on related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock
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| Call: | At par if each stock closes at or above its initial level on any quarterly determination date after six months
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| Initial prices: | $38.03 for Shopify, $93.95 for Amazon, $95.69 for Disney
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| Barrier prices: | $19.02 for Shopify, $46.98 for Amazon, $47.84 for Disney; 60% of initial prices
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| Pricing date: | Nov. 30, 2022
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| Settlement date: | Dec. 5, 2022
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| Agent: | Barclays
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| Fees: | 0.65%
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| Cusip: | 06749NA85
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