Published on 1/19/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays Bank prices $2.72 million Trigger PLUS linked to S&P 500
New York, Jan. 19 – Barclays Bank plc priced $2.72 million of 0% Trigger PLUS due Feb. 5, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 125.3% of the index return.
Investors will receive par if the index return is negative but ends at or above the 75% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger PLUS
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| Underlying index: | S&P 500 index
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| Amount: | $2,716,410
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| Maturity: | Feb. 5, 2029
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If return of index is positive, par plus 125.3% of the gain of the index; par if index declines but finishes at or above 75% trigger level; otherwise, 1% loss for every 1% decline of index from initial level
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| Initial level: | 3,999.09
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| Trigger level: | 2,999.32, 75% of initial level
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| Upside leverage: | 125.3%
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
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| Agent: | Barclays
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 3.5% including a structuring fee of 0.5%
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| Cusip: | 06748D709
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