Published on 9/6/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $762,000 buffered SuperTrack notes tied to S&P, Dow
By Kiku Steinfeld
Chicago, Sept. 6 – Barclays Bank plc priced $762,000 of 0% buffered SuperTrack notes due Sept. 2, 2027 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 1.15 times the least-performing index’s return.
If the least-performing index declines by 35% or less, the payout will be par. Investors will lose 1% for each 1% that the least-performing index declines beyond 35%.
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: | $762,000
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Maturity: | Sept. 2, 2027
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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 1.15 times least-performing index’s return; 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: | 3,970.15 for S&P, 32,656.70 for Dow
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Buffer levels: | 2,580.60 for S&P, 21,226.86 for Dow; 65% of initial levels
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Pricing date: | Feb. 28, 2023
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Settlement date: | March 3, 2023
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Agent: | Barclays
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Fees: | 0.7%
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Cusip: | 06749NMU3
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