Published on 1/5/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.69 million buffered SuperTrack notes tied to S&P, Dow
By William Gullotti
Buffalo, N.Y., Jan. 5 – Barclays Bank plc priced $1.69 million of 0% buffered SuperTrack notes due Dec. 24, 2026 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, 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 the least-performing index’s return.
If the least-performing index declines by 25% or less, the payout will be par. Investors will lose 1% for each 1% that the least-performing index declines beyond 25%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered SuperTrack notes
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Underlying indexes: | S&P 500 index, Dow Jones industrial average
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Amount: | $1,688,000
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Maturity: | Dec. 24, 2026
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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 least-performing index’s return; if least-performing index’s final level is less than or equal to initial level but greater than or equal to buffer level, par; if least-performing index’s final level is less than buffer level, 1% loss for every 1% that least-performing index declines beyond buffer
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Initial levels: | 4,746.75 for S&P, 37,404.35 for Dow
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Buffer levels: | 3,560.06 for S&P, 28,053.26 for Dow; 75% of initial levels
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | Barclays
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Fees: | 2.8%
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Cusip: | 06745P5G2
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