Published on 1/4/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $19,000 buffered SuperTrack linked to S&P, Dow
By Angela McDaniels
Tacoma, Wash., Jan. 4 – Barclays Bank plc priced $19,000 of 0% buffered SuperTrack due Feb. 3, 2027 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus the lesser performing index’s return.
If the lesser performing index’s final level is less than its initial level but greater than or equal to its buffer level, 65% of its initial level, the payout will be par.
If the lesser performing index’s final level is less than its buffer level, investors will lose 1% for every 1% that the lesser performing index declines beyond 35%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered SuperTrack
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| Underlying indexes: | S&P 500 index and Dow Jones industrial average
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| Amount: | $19,000
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| Maturity: | Feb. 3, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performing index’s final level is greater than or equal to initial level, par plus lesser performing index’s return; if lesser performing index’s final level is less than initial level but greater than or equal to buffer level, par; if lesser performing index’s final level is less than buffer level, 1% loss for every 1% that lesser performing index declines beyond 35%
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| Initial levels: | 4,169.48 for S&P and 34,098.16 for Dow
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| Buffer levels: | 2,710.16 for S&P and 22,163.80 for Dow, or 65% of initial levels
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| Pricing date: | April 28, 2023
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| Settlement date: | May 3, 2023
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| Agent: | Barclays
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| Fees: | 0.9%
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| Cusip: | 06749NZD7
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