Published on 3/7/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.84 million buffered dual directional notes on Dow
By William Gullotti
Buffalo, N.Y., March 7 – Barclays Bank plc priced $4.84 million of 0% buffered dual directional notes due Feb. 12, 2026 linked to the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the index, subject to a maximum return of par plus 23.25%.
If the index falls by up to 20%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline of the index beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered dual directional notes
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Underlying index: | Dow Jones industrial average
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Amount: | $4,835,000
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Maturity: | Feb. 12, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, subject to a maximum return of par plus 23.25%; if index falls by up to 20% par plus the absolute value of return of the index; otherwise, 1% loss for each 1% decline of index beyond 20%
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Initial level: | 38,671.69
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Buffer value: | 30,937.35; 80% of initial level
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Pricing date: | Feb. 9
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Settlement date: | Feb. 14
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Agent: | Barclays
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Fees: | 0.15%
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Cusip: | 06745PK67
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