Published on 4/16/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $655,000 buffered SuperTrack notes tied to S&P 500
By Kiku Steinfeld
Chicago, April 17 – Barclays Bank plc priced $655,000 of 0% buffered SuperTrack notes due Dec. 11, 2025 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, up to a maximum payout of par plus 33.75%.
Investors will receive par if the index falls by up to 40% and will lose 1% for each 1% decline beyond 40%.
The initial level of the index is set at the closing level of the S&P 500 on Dec. 8, 2022.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered SuperTrack notes
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Underlying index: | S&P 500 index
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Amount: | $655,000
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Maturity: | Dec. 11, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at par plus 33.75%; par if the index falls by up to 40%; 1% loss for each 1% decline beyond 40%
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Initial level: | 3,963.51
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Buffer level: | 2,378.11; 60% of initial level
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Pricing date: | Dec. 12
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Settlement date: | Dec. 15
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Agent: | Barclays
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Fees: | 0.15%
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Cusip: | 06749NCS9
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