Published on 8/25/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.15 million buffered digital notes linked to indexes, ETF
Chicago, Aug. 25 – Barclays Bank plc priced $1.15 million of 0% buffered digital notes due Sept. 23, 2024 linked to the least performing of the S&P 500 index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing asset finishes at or above its 75% buffer level, the payout at maturity will be par plus the digital percentage of 9%.
Otherwise, investors will lose 1% for every 1% decline of the least performer in excess of the 25% buffer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered digital notes
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Underlying assets: | S&P 500 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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Amount: | $1,145,000
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Maturity: | Sept. 23, 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 9%; otherwise, 1% loss for every 1% decline of lowest performing asset beyond 25%
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Initial levels: | 4,369.71 for S&P, 1,859.421 for Russell, $63.49 for fund
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Buffer levels: | 3,277.28 for S&P, 1,394.57 for Russell, $47.62 for fund; 75% of initial levels
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Pricing date: | Aug. 18
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Settlement date: | Aug. 23
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Agent: | Barclays
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Fees: | 0.4%
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Cusip: | 06745N6G6
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