Published on 6/1/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $668,000 buffered dual directional notes tied to S&P
By Kiku Steinfeld
Chicago, June 1 – Barclays Bank plc priced $668,000 of 0% buffered dual directional notes due April 29, 2024 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 any index gain, capped at par plus 6%.
If the index falls by up to 30%, the payout will be par plus the absolute value of the index return.
Investors will lose 1% for every 1% decline beyond 30%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered dual directional notes
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Underlying index: | S&P 500 index
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Amount: | $668,000
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Maturity: | April 29, 2024
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus any index gain, capped at par plus 6%; if index falls by up to 30% par plus the absolute value of the index return; exposure to losses beyond 30%
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Initial level: | 4,016.95
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Buffer level: | 2,811.87, 70% of initial level
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Pricing date: | Jan. 24, 2023
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Settlement date: | Jan. 27, 2023
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Agent: | Barclays
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Fees: | 0.25%
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Cusip: | 06749NJ94
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