Published on 4/19/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.5 million Trigger PLUS linked to S&P 500
New York, April 19 – Barclays Bank plc priced $4.5 million of 0% Trigger PLUS due April 4, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 122% of the index return.
Investors will receive par if the index return is negative but ends at or above the 75% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | Barclays Bank plc
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Issue: | Trigger PLUS
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Underlying index: | S&P 500 index
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Amount: | $4,503,120
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Maturity: | April 4, 2029
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If return of index is positive, par plus 122% of the gain of the index; par if index declines but finishes at or above trigger level; otherwise, 1% loss for every 1% decline of index from initial level
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Initial levels: | 4,109.31
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Trigger level: | 3,081.98, 75% of initial level
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Upside leverage: | 122%
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Pricing date: | March 31
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Settlement date: | April 5
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Agent: | Barclays
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3.5% including a structuring fee of 0.5%
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Cusip: | 06748F225
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