Published on 7/26/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $500,000 buffered SuperTrack notes tied to S&P 500
By William Gullotti
Buffalo, N.Y., July 26 – Barclays Bank plc priced $500,000 of 0% buffered SuperTrack notes due Sept. 25, 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 22%.
Investors will receive par if the index falls by up to 30% and will lose 1% for each 1% decline beyond 30%.
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: | $500,000
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Maturity: | Sept. 25, 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 22%; par if the index falls by up to 30%; otherwise, 1% loss for each 1% decline beyond 30%
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Initial level: | 4,565.72
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Buffer level: | 3,196.0; 70% of initial level
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Strike date: | July 19
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Pricing date: | July 20
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Settlement date: | July 25
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Agent: | Barclays
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Fees: | 0.15%
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Cusip: | 06745MTX6
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