Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays Bank prices $13 million trigger jump securities on Invesco S&P 500
New York, Aug. 14 – Barclays Bank plc priced $13 million of 0% trigger jump securities due Aug. 3, 2029 linked to the Invesco S&P 500 Equal Weight ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus the greater of the ETF's return and 50%. Investors will receive par if the ETF declines but finishes at or above the 70% trigger level and will lose 1% for every 1% that it declines if it finishes below the trigger level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Barclays Bank plc
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Issue: | Trigger jump securities
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Underlying ETF: | Invesco S&P 500 Equal Weight ETF
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Amount: | $13 million
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Maturity: | Aug. 3, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is positive, par plus greater of ETF return and 50%; par if ETF declines but finishes at or above trigger level; 1% loss for every 1% that ETF declines if it finishes below trigger level
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Initial level: | $154.88
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Upside payment: | 50%
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Trigger: | $108.42, 70% of initial level
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Pricing date: | July 31
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Settlement date: | Aug. 3
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Agent: | Barclays
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 3.5%
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Cusip: | 06745MXZ6
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