Published on 2/1/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.1 million capped gears linked to index basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Barclays Bank plc priced $8.1 million of 0% capped gears due March 24, 2023 linked to an unequally-weighted basket of five indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 17.5% weight, the Nikkei 225 index with a 25% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus triple the basket return up to a maximum gain of 24.35%.
Investors will be fully exposed to any losses in the basket if the basket return is negative.
Barclays and UBS Financial Services Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Capped gears
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Underlying indexes: | Euro Stoxx 50 index (40% weight), FTSE 100 index (17.5% weight), Nikkei 225 index (25% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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Amount: | $8,100,940
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Maturity: | March 24, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus three times the basket return up to a maximum gain of 24.35%; full exposure to losses of basket if return is negative
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Initial levels: | 4,178.01 for Stoxx, 27,382.56 for Nikkei, 7,765.15 for FTSE, 11,332.3 for Swiss, 7,493.833 for S&P/ASX
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Pricing date: | Jan. 27
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Settlement date: | Jan. 31
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Agent: | Barclays and UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 06748A358
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