Published on 8/17/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.53 million capped dual directional buffered notes tied to S&P 500
By William Gullotti
Buffalo, N.Y., Aug. 17 – Barclays Bank plc priced $2.53 million of 0% capped dual directional buffered notes due June 17, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus gain of the index, up to a maximum return of 24%.
If the index falls by up to 20%, the payout will be par plus the absolute value of the return of the index.
Otherwise, investors will lose 1.25% for each 1% decline of the index beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Capped dual directional buffered notes
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Underlying index: | S&P 500
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Amount: | $2,525,000
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Maturity: | June 17, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains, par plus return of index, capped at par plus 24%; if the index falls by no more than 20%, par plus absolute value of return of index; if the index falls by more than 20%, investors will lose 1.25% for each 1% decline of the index beyond 20%
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Initial level: | 4,280.15
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Buffer level: | 3,424.12; 80% of initial level
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Pricing date: | Aug. 12
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Settlement date: | Aug. 17
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Agent: | Barclays
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Fees: | 1.42%
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Cusip: | 06741WW97
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