Published on 3/14/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.79 million leveraged upside participation market-linked notes on S&P
By Wendy Van Sickle
Columbus, Ohio, March 14 – Barclays Bank plc priced $2.79 million of 0% market-linked securities with leveraged upside participation to a cap and fixed-percentage buffered downside due March 2, 2026 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 200% times any gain in the index, up to par plus 31%.
If the index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the index beyond 20%.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Market-linked securities with leveraged upside participation to a cap and fixed-percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $2,793,000
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Maturity: | March 2, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% times any gain in index, up to par plus 31%; if index falls by up to 20%, par; otherwise, 1% loss for every 1% decline of index beyond 20%
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Initial level: | 3,982.24
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Barrier level: | 3,185.792, 80% of initial level
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Pricing date: | Feb. 27
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Settlement date: | March 2
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Agents: | Barclays Capital Inc. and Wells Fargo Securities LLC
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Fees: | 3%
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Cusip: | 06749NLP5
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