Published on 3/21/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.05 million trigger step securities on weighted index basket
By William Gullotti
Buffalo, N.Y., March 21 – Barclays Bank plc priced $2.05 million of 0% trigger step securities due March 20, 2028 linked to an unequally weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of 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.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of the basket return and the step return of 64.3%.
Investors will receive par if the basket declines by 25% or less and will lose 1% for each 1% decline from its initial level if the basket falls more than 25%.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger step securities
|
| Underlying indexes: | Euro Stoxx 50 (40% weight), Nikkei 225 (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
|
| Amount: | $2,052,640
|
| Maturity: | March 20, 2028
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is zero or positive, par plus greater of 64.3% and return; par if basket declines by up to 25%; otherwise, 1% loss for each 1% decline of basket from initial level
|
| Initial level: | 4,116.98 for Euro Stoxx 50, 27,010.61 for Nikkei 225, 7,410.03 for FTSE 100, 10,719.1 for Swiss Market, 6,965.538 for S&P/ASX 200
|
| Downside threshold: | 75% of initial level
|
| Pricing date: | March 16
|
| Settlement date: | March 20
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | None
|
| Cusip: | 06748F258
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