Published on 3/17/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $492,000 leveraged upside participation market-linked notes on indexes
By Kiku Steinfeld
Chicago, March 17 – Barclays Bank plc priced $492,000 of 0% market-linked securities with leveraged upside participation and contingent downside due June 5, 2026 linked to the lowest performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 130% times any gain of the lowest-performing index.
If any index falls but not more than 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst-performing index.
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 and contingent downside
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Underlying indexes: | Dow Jones industrial average, S&P 500 index
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Amount: | $492,000
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Maturity: | June 5, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% times any gain of worst-performing index; if any index falls but not more than the threshold level, par; otherwise, 1% loss for every 1% decline of worst-performing index
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Initial levels: | 34,589.77 for Dow, 4,080.11 for S&P
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Threshold levels: | 27,671.816 for Dow, 3,264.088 for S&P, 80% of initial levels
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Pricing date: | Nov. 30, 2022
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Settlement date: | Dec. 5, 2022
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Agent: | Barclays Capital Inc. and Wells Fargo Securities LLC
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Fees: | 2.99%
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Cusip: | 06749N3B6
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