Published on 8/8/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $105,000 fixed coupon buffered notes on Russell
Chicago, Aug. 8 – Barclays Bank plc priced $105,000 of fixed coupon buffered notes due July 31, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 6.3%.
If the notes are not called and the index finishes at or above 85% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline beyond the 15% buffer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Fixed coupon buffered notes
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Underlying index: | Russell 2000 index
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Amount: | $105,000
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Maturity: | July 31, 2025
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Coupon: | 6.3% annually, paid quarterly
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Price: | Par
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Payout at maturity: | Par plus final coupon unless the index finishes below buffer level, in which case 1% loss for each 1% decline of the index beyond 15% buffer
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Initial level: | 1,980.355
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Buffer level: | 1,683.30; 85% of initial level
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Barclays
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Fees: | 2.25%
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Cusip: | 06745MTA6
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