By William Gullotti
Buffalo, N.Y., March 3 – Barclays Bank plc priced $3.38 million of 0% market-linked securities – upside participation with contingent absolute return and contingent downside due March 3, 2028 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 101% of any index gain.
If the index falls up to 35%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to the decline of the index 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 – upside participation with contingent absolute return and contingent downside
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| Underlying index: | S&P 500 index
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| Amount: | $3,382,000
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| Maturity: | March 3, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 101% of any gain of index; if index falls but finishes at or above threshold level, par plus absolute value of index return; otherwise, 1% loss for every 1% decline of the index from its initial level
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| Initial level: | 3,970.15
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| Threshold level: | 2,580.5975; 65% of initial level
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | Barclays Capital Inc. and Wells Fargo Securities LLC
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| Fees: | 3.87%
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| Cusip: | 06749NLR1
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