Published on 2/3/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $9.63 million PLUS linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – Barclays Bank plc priced $9.63 million of 0% Performance Leveraged Upside Securities due March 3, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus triple the return of the index, subject to a maximum payout of par plus 12.5%. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Barclays Bank plc
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Issue: | Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $9,633,020
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Maturity: | March 3, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index finishes above initial level, par plus three times index return capped at par plus 12.5%; otherwise, 1% loss for each 1% decline of index from initial level
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Initial level: | 4,515.55
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Pricing date: | Jan. 31
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Settlement date: | Feb. 3
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Agent: | Barclays
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 06748A341
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