Published on 7/5/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.35 million buffered SuperTrack notes linked to S&P, Dow
By Kiku Steinfeld
Chicago, July 5 – Barclays Bank plc priced $1.35 million of 0% buffered SuperTrack notes due June 27, 2024 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s return is positive, the payout at maturity will be par plus 1.5 times lesser-performing index’s return, capped at 23%. If the lesser-performing index declines by 10% or less, the payout will be par. Investors will lose 1% for each 1% that the lesser-performing index declines beyond 10%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered SuperTrack notes
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Underlying indexes: | S&P 500 and Dow Jones industrial average
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Amount: | $1,354,000
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Maturity: | June 27, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing index’s return is positive, par plus 1.5 times lesser-performing index’s return, capped at 23%; if lesser-performing index’s final level is less than or equal to initial level but greater than or equal to buffer level, par; if lesser-performing index’s final level is less than buffer level, 1% loss for every 1% that lesser-performing index declines beyond 10%
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Initial levels: | 35,753.89 for Dow, 4,696.56 for S&P
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Buffer levels: | 32,178.50 for Dow, 4,226.90 for S&P, or 90% of initial levels
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Pricing date: | Dec. 22, 2021
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Settlement date: | Dec. 28, 2021
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Agent: | Barclays
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Fees: | 2.9%
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Cusip: | 06748WX99
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