Published on 5/7/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.58 million leveraged market-linked notes on ETF basket
By Kiku Steinfeld
Chicago, May 9 – Barclays Bank plc priced $1.58 million of 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due Oct. 6, 2025 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR Dow Jones Industrial Average ETF trust (50% weight), the SPDR S&P MidCap 400 ETF trust (30% weight) and the iShares Russell 2000 ETF (20% weight).
The payout at maturity will be par plus 110% of any basket gain, subject to a maximum return of 32%.
Investors will receive par if the basket finishes flat or falls by up to 10% and lose 1% for each 1% decline of the basket beyond 10%.
Wells Fargo Securities, LLC and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside
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Basket components: | SPDR Dow Jones Industrial Average ETF trust (50% weight), SPDR S&P MidCap 400 ETF trust (30% weight) and iShares Russell 2000 ETF (20% weight)
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Amount: | $1,578,000
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Maturity: | Oct. 6, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 110% of any basket gain, subject to a maximum return of 32%; par if basket falls by up to 10%; exposure to any decline in basket beyond 10%
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Initial prices: | $338.29 for SPDR Dow, $480.88 for SPDR S&P, $218.75 for iShares Russell
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Buffer levels: | 90% of initial levels
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Pricing date: | Sept. 30, 2021
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Settlement date: | Oct. 5, 2021
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Agents: | Wells Fargo Securities, LLC and Barclays
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Fees: | 3.825%
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Cusip: | 06748WG49
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