Published on 2/11/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $589,000 autocallable leveraged buffered notes on S&P
Chicago, Feb. 11 – Barclays Bank plc priced $589,000 of 0% autocallable leveraged buffered notes due May 29, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes above its initial value on May 29, 2024 the notes will be redeemed at par plus a 10% premium.
The payout at maturity will be par plus 1.42 times any gain in the index.
If the index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the index beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable leveraged buffered notes
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Underlying index: | S&P 500 index
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Amount: | $589,000
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Maturity: | May 29, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.42 times any index gain; if index falls by up to 20%, par; otherwise, 1% loss for every 1% decline of index beyond 20%
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Call: | Par plus 10% if index closes above initial level on May 29, 2024
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Initial level: | 4,151.28
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Buffer level: | 3,321.02; 80% of initial level
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Pricing date: | May 25, 2023
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Settlement date: | May 31, 2023
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Agent: | Barclays
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Fees: | 0.85%
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Cusip: | 06745MEE4
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