Published on 3/9/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million capped buffered return enhanced notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., March 9 – Barclays Bank plc priced $1 million of 0% capped buffered return enhanced notes due March 6, 2025 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain up to a maximum return of par plus 21%.
Investors will receive par if the index falls by up to 35% and will lose 1% for each 1% decline beyond 35%.
Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Barclays Bank plc
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Issue: | Capped buffered return enhanced notes
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Underlying index: | S&P 500 index
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Amount: | $1 million
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Maturity: | March 6, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 21%; par if index declines by 35% or less; otherwise, lose 1% for each 1% decline beyond 35%
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Initial value: | 3,970.15
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Buffer level: | 2,580.6; 65% of initial level
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Strike date: | Feb. 28
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Pricing date: | March 1
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Settlement date: | March 6
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Agents: | Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 0.5%
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Cusip: | 06749NVJ8
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