Published on 9/26/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7 million buffered SuperTrack notes linked to index basket
By William Gullotti
Buffalo, N.Y., Sept. 26 – Barclays Bank plc priced $7 million of 0% buffered SuperTrack notes due Aug. 31, 2027 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 55% weight, the Russell 2000 index with a 30% weight and the S&P MidCap 400 index with a 15% weight.
If the basket’s return is positive, the payout at maturity will be par plus 1.2 times the basket’s return.
If the basket declines by 20% or less, the payout will be par. Otherwise, investors will lose 1% for each 1% basket decline beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered SuperTrack notes
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| Underlying indexes: | S&P 500 index (55% weight), S&P MidCap 400 index (15% weight), Russell 2000 index (30% weight)
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| Amount: | $7 million
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| Maturity: | Aug. 31, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 1.2 times the basket’s return; if the basket’s final level is less than or equal to initial level but greater than or equal to buffer level, par; if the basket’s final level is less than buffer level, 1% loss for every 1% basket decline beyond the buffer
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| Initial levels: | 4,140.77 for S&P, 1,935.29 for Russell, 2,534.47 for MidCap
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| Buffer levels: | 80% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | Barclays
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| Fees: | 0.6%
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| Cusip: | 06748XQQ7
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