Published on 9/15/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $579,000 barrier SuperTrack notes linked to S&P, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Sept. 15 – Barclays Bank plc priced $579,000 of 0% barrier SuperTrack notes due March 8, 2028 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least-performing index’s return is positive, the payout at maturity will be par plus 2.65 times the least-performing index’s return, up to a maximum return of 100%. If the least-performing index declines by 20% or less, the payout will be par. Investors will lose 1% for each 1% that the least-performing index declines from its initial level if it falls by more than 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Barrier SuperTrack notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $579,000
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| Maturity: | March 8, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If least-performing index’s return is positive, par plus 2.65 times least-performing index’s return, up to maximum return of 100%; if least-performing index’s final level is less than or equal to initial level but greater than or equal to barrier level, par; if least-performing index’s final level is less than barrier level, 1% loss for every 1% that least-performing index declines from initial level
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| Initial levels: | 4,045.64 for S&P, 12,290.81 for Nasdaq, 1,928.263 for Russell
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| Barrier levels: | 3,236.51 for S&P, 9,832.65 for Nasdaq, 1,542.61 for Russell; 80% of initial levels
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| Pricing date: | March 3, 2023
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| Settlement date: | March 8, 2023
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| Agent: | Barclays
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| Fees: | 1.12%
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| Cusip: | 06749NUF7
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