New Issue: Barclays prices $550,000 buffered dual directional notes on S&P 500

By Kiku Steinfeld

Chicago, Oct. 4 – Barclays Bank plc $550,000 of 0% buffered dual directional notes due April 25, 2024 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 any gain in the index, subject to a maximum return of par plus 6.3%.

If the index falls by up to 25%, the payout will be par plus the absolute value of the return.

Otherwise, investors will lose 1% for every 1% decline of the index beyond 25%.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Buffered dual directional notes
Underlying index:	S&P 500 index
Amount:	$550,000
Maturity:	April 25, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, subject to a maximum return of par plus 6.3%; if index falls by up to 25% par plus the absolute value of return of that index; otherwise, 1% loss for each 1% decline of index beyond 25%
Initial level:	4,002.87
Buffer value:	3,002.15; 75% of initial level
Pricing date:	March 21, 2023
Settlement date:	March 24, 2023
Agent:	Barclays
Fees:	0.25%
Cusip:	06749NXP2

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