By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – Barclays Bank plc priced $5.76 million of 0% autocallable buffered dual directional notes due Feb. 6, 2025 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called automatically at par plus an 8% call premium if the ETF closes at or above its initial level on Feb. 5, 2024.
The payout at maturity will be par plus any gain in the ETF.
If the ETF falls by up to 25%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline of the ETF beyond 25%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable buffered dual directional notes
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Underlying ETF: | SPDR S&P 500 ETF trust
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Amount: | $5,764,000
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Maturity: | Feb. 6, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any ETF gain; if ETF falls by up to 25%, par plus the absolute value of the return; otherwise, exposure to losses of ETF beyond 25%
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Call: | Automatically at par plus 8% premium if ETF closes at or above initial level on Feb. 5, 2024
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Initial level: | $412.35
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Buffer value: | $309.26; 75% of initial level
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Pricing date: | Feb. 3
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Settlement date: | Feb. 8
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Agent: | Barclays
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Fees: | 0.7%
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Cusip: | 06749NM74
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