Published on 5/15/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $625,000 buffered digital notes linked to indexes, ETF
By Kiku Steinfeld
Chicago, May 15 – Barclays Bank plc priced $625,000 of 0% buffered digital notes due July 16, 2024 linked to the Nasdaq-100 index, Russell 2000 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing asset finishes at or above its 85% buffer level, the payout at maturity will be par plus the digital percentage of 18.75%.
If the least performing asset finishes below its 85% buffer level but at or above its 75% digital barrier level, the payout at maturity will be par plus (a) the return of lowest performer in excess of the 15% buffer times 1.17647 plus (b) the 18.75% digital percentage.
Otherwise, investors will lose 1.17647% for every 1% decline of the least performer in excess of the 15% buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered digital notes
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| Underlying assets: | Russell 2000 index
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| Amount: | $625,000
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| Maturity: | July 16, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If least performer finishes at or above buffer level, par plus 18.75%; if the least performing asset closes below buffer level but at or above barrier level, par plus (a) the return of lowest performer in excess of the 15% buffer times 1.17647 plus (b) 18.75%; otherwise, 1.17647% loss for every 1% decline of lowest performing asset beyond 15%
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| Initial levels: | 11,402.52 for Nasdaq, 1,844.051 for Russell, $145.23 for iShares
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| Buffer levels: | 9,692.14 for Nasdaq, 1,567.44 for Russell, $123.45 for iShares; 85% of initial levels
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| Barrier levels: | 8,551.89 for Nasdaq, 1,383.04 for Russell, $108.92 for iShares; 75% of initial levels
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| Pricing date: | Jan. 11, 2023
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| Settlement date: | Jan. 17, 2023
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| Agent: | Barclays
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| Fees: | 0.65%
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| Cusip: | 06749NGM8
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