Published on 3/3/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays Bank prices $14.29 million Buffered PLUS linked to S&P 500
New York, March 3 – Barclays Bank plc priced $14.29 million of 0% Buffered PLUS due Sept. 4, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the index is positive, the payout at maturity will be par plus 200% of the return, subject to a maximum return of par plus 27.5%.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | Barclays Bank plc
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Issue: | Buffered PLUS
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Underlying indexes: | S&P 500 index
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Amount: | $14,287,240
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Maturity: | Sept. 4, 2025
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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 200% of the index's return, subject to a maximum return of par plus 27.5%; par if index declines by 10% or less; otherwise, 1% loss for every 1% that index declines beyond 10%
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Initial level: | 3,970.15
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Buffer level: | 3,573.135, 90% of initial level
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Upside leverage: | 200%
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Cap: | 27.5%
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Pricing date: | Feb. 28
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Settlement date: | March 3
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Agent: | Barclays
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3% including a structuring fee of 0.5%
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Cusip: | 06748F688
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