Published on 9/19/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.56 million trigger gears linked to index basket
By William Gullotti
Buffalo, N.Y., Sept. 19 – Barclays Bank plc priced $5.56 million of 0% trigger gears due Sept. 18, 2026 linked to a basket of equity indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
The payout at maturity will be par plus 2.1175 times any basket gain.
If the basket finishes flat or falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the basket declines from the initial level.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger gears
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Underlying indexes: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (7.5% weight)
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Amount: | $5,560,110
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Maturity: | Sept. 18, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2.1175 times any basket gain; par if basket finishes flat or falls by up to 25%; otherwise, full exposure to basket decline from initial level
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Initial index levels: | 4,295.05 for Euro Stoxx, 33,533.09 for Nikkei 225, 7,711.38 for FTSE 100, 11,197.72 for Swiss Market, 7,279.033 for S&P/ASX 200
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Downside threshold: | 75% of initial level
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Pricing date: | Sept. 15
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Settlement date: | Sept. 19
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | None
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Cusip: | 06748H270
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