Published on 3/12/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.16 million fixed-coupon barrier notes on S&P, Russell
Chicago, March 12 – Barclays Bank plc priced $1.16 million of 6.85% fixed-coupon barrier notes due Dec. 10, 2025 linked to the least performing of the S&P 500 index and the Russell 200 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
At maturity, investors will receive par if both indexes finish above the 65% barrier level. Otherwise, investors will be fully exposed to the losses of the worst performer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Fixed-coupon barrier notes
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Underlying indexes: | S&P 500 index and Russell 2000 index
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Amount: | $1,155,000
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Maturity: | Dec. 10, 2025
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Contingent coupon: | 6.85% annual rate, payable monthly
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Price: | Par
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Payout at maturity: | Par if both indexes end above barrier level; otherwise, full exposure to losses of worst performer
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Initial index levels: | 2,053.708 for Russell, 5,078.65 for S&P
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Barrier levels: | 1,334.91 for Russell, 3,301.12 for S&P, 65% of initial levels
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Pricing date: | March 5
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Settlement date: | March 8
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Agent: | Barclays
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Fees: | 0.65%
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Cusip: | 06745Q3B3
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