Published on 4/12/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.8 million leveraged upside market-linked notes with downside on S&P
By William Gullotti
Buffalo, N.Y., April 12 – Barclays Bank plc priced $1.8 million of 0% market-linked securities – leveraged upside participation to a cap and contingent downside due Oct. 3, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% times any index gain, subject to a maximum return of par plus 75%.
If any index falls up to 20%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market-linked securities – leveraged upside participation to a cap and contingent downside
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| Underlying index: | S&P 500 index
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| Amount: | $1,801,000
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| Maturity: | Oct. 3, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% times any gain of index, capped at par plus 75%; if index falls but not more than the threshold level, par; otherwise, 1% loss for every 1% decline of the index from its initial level
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| Initial level: | 5,254.35
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| Threshold level: | 4,203.48; 80% of initial level
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| Pricing date: | March 28
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| Settlement date: | April 2
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| Agent: | Barclays Capital Inc. and Wells Fargo Securities LLC
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| Fees: | 3.95%
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| Cusip: | 06745PZ87
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