Published on 8/22/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.38 million autocallable trigger PLUS tied to S&P 500
By William Gullotti
Buffalo, N.Y., Aug. 22 – Barclays Bank plc priced $8.38 million of 0% autocallable trigger Performance Leveraged Upside Securities due Aug. 5, 2025 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The securities will be called automatically at par plus a 9.75% call premium if the index closes at or above its initial level on Aug. 7, 2024.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 125% of the index return.
If the index declines by 25% or less, the payout will be par. If the index declines by more than 25%, investors will lose 1% for every 1% that the index declines from its initial level.
Barclays is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | Barclays Bank plc
|
Issue: | Autocallable trigger Performance Leveraged Upside Securities
|
Underlying index: | S&P 500 index
|
Amount: | $8,375,000
|
Maturity: | Aug. 5, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If the final index level is greater than the initial index level, the payout at maturity will be par plus 125% of the index return; if the index declines by 25% or less, par; otherwise, investors will lose 1% for every 1% that the index declines from its initial level
|
Call: | Automatically at par plus a 9.75% call premium if the index closes at or above its initial level on Aug. 7, 2024
|
Initial level: | 4,588.96
|
Trigger level: | 3,441.72; 75% of initial level
|
Pricing date: | July 31
|
Settlement date: | Aug. 3
|
Agent: | Barclays
|
Distribution: | Morgan Stanley Wealth Management
|
Fees: | 2.5%
|
Cusip: | 06745MSZ2
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.