Published on 11/9/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.99 million leveraged upside participation market-linked notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 9 – Barclays Bank plc priced $1.99 million of 0% market-linked securities with leveraged upside participation and contingent downside due May 4, 2026 linked to the lesser performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 128% times any gain in the laggard index.
If the laggard index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the laggard index.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Market-linked securities with leveraged upside participation and contingent downside
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average
|
| Amount: | $1,988,000
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| Maturity: | May 4, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 128% times any gain laggard in index; if laggard index falls by up to 20%, par; otherwise, 1% loss for every 1% decline of laggard index
|
| Initial levels: | 32,732.95 for Dow, 3,871.98 for S&P
|
| Barrier levels: | 26,186.36 for Dow, 3,097.584 for S&P, 80% of initial levels
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 3
|
| Agents: | Barclays Capital Inc. and Wells Fargo Securities LLC
|
| Fees: | 2.96%
|
| Cusip: | 06748XZ46
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