Barclays eyes leveraged market-linked securities on index, ETF basket

By Sarah Lizee

Olympia, Wash., Oct. 16 – Barclays Bank plc plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 6, 2023 linked to a basket of one index and two exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the S&P 500 Value index with a 50% weight, the iShares MSCI EAFE ETF with a 30% weight and the Financial Select Sector SPDR Fund with a 20% weight.

The payout at maturity will be par plus 130% of any basket gain, capped at par plus 55% to 60%. The exact cap will be set at pricing.

Investors will receive par if the basket falls by up to 20% and will be exposed to declines in the basket beyond 20%.

Wells Fargo Securities, LLC and Barclays are the agents.

The notes (Cusip: 06746XUJ0) will price on Oct. 31 and settle on Nov. 5.

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