Published on 7/18/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.12 million buffered digital notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, July 18 – Barclays Bank plc priced $1.12 million of 0% buffered digital notes due Aug. 15, 2024 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing index finishes at or above its 70% buffer level, the payout at maturity will be par plus the digital percentage of 7.5%.
Otherwise, investors will lose 1% for every 1% decline of the least performer in excess of the 30% buffer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered digital notes
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Underlying indexes: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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Amount: | $1,116,000
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Maturity: | Aug. 15, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If least performer finishes at or above buffer level, par plus 7.5%; otherwise, 1% loss for every 1% decline of lowest performing index beyond 30%
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Initial levels: | 15,307.23 for Nasdaq, 1,933.376 for Russell, 4,472.16 for S&P
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Buffer levels: | 10,715.06 for Nasdaq, 1,353.36 for Russell, 3,130.51 for S&P; 70% of initial levels
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Pricing date: | July 12
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Settlement date: | July 17
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Agent: | Barclays
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Fees: | 0.65%
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Cusip: | 06745MS25
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