Published on 3/3/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays Bank prices $2.58 million PLUS linked to Russell 2000
New York, March 3 – Barclays Bank plc priced $2.58 million of 0% PLUS due June 5, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the index is positive, the payout at maturity will be par plus 300% of the return, subject to a maximum return of par plus 20.6%.
Investors will be fully exposed to any index decline.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | Barclays Bank plc
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Issue: | PLUS
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Underlying index: | Russell 2000 index
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Amount: | $2,579,830
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Maturity: | June 5, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If return of index is positive, par plus 300% of index return, subject to a maximum return of par plus 20.6%; otherwise, 1% loss for every 1% that index declines
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Initial level: | 1,896.991
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Upside leverage: | 300%
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Cap: | 20.6%
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Pricing date: | Feb. 28
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Settlement date: | March 3
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Agent: | Morgan Stanley Wealth Management
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Fees: | 2.25% including a structuring fee of 0.5%
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Cusip: | 06748F662
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