Published on 9/8/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million digital notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – Barclays Bank plc priced $1 million of 0% digital notes due Nov. 29, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 85% of initial level, par plus 11.75%.
Otherwise, investors will lose 1.1765% for every 1% decline beyond 15%.
Barclays is the agent with JPMorgan as placement agent.
Issuer: | Barclays Bank plc
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Issue: | Digital notes
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Underlying index: | S&P 500 index
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Amount: | $1 million
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Maturity: | Nov. 29, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 85% of initial level, par plus 11.75%; otherwise, 1.1765% loss for every 1% decline beyond 15%
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Initial index level: | 3,966.85
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Barrier level: | 3,371.82; 85% of initial level
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Strike date: | Sept. 1
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Pricing date: | Sept. 2
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Settlement date: | Sept. 8
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Agent: | Barclays with JPMorgan as placement agent
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Fees: | 1.04%
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Cusip: | 06748XS36
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