Published on 12/30/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.08 million buffered SuperTrack notes tied to S&P, Dow
By William Gullotti
Buffalo, N.Y., Dec. 30 – Barclays Bank plc priced $2.08 million of 0% buffered SuperTrack notes due June 26, 2025 linked to the least 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 least-performing index’s return is positive, the payout at maturity will be par plus 1.5 times the least-performing index’s return, subject to a maximum return of par plus 37%.
If the least-performing index declines by 15% or less, the payout will be par. Investors will lose 1% for each 1% that the least-performing index declines beyond 15%.
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 index, Dow Jones industrial average
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Amount: | $2,079,000
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Maturity: | June 26, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If least-performing index’s return is positive, par plus 1.5 times least-performing index’s return, capped at 37%; if least-performing index’s final level is less than or equal to initial level but greater than or equal to buffer level, par; if least-performing index’s final level is less than buffer level, 1% loss for every 1% that least-performing index declines beyond buffer
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Initial levels: | 3,878.44 for S&P, 33,376.48 for Dow
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Buffer levels: | 3,296.67 for S&P, 28,370.01 for Dow; 85% of initial levels
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | Barclays
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Fees: | 2.9%
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Cusip: | 06749NAM4
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