Published on 4/30/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.6 million lookback entry buffered PLUS tied to index basket
By Wendy Van Sickle
Columbus, Ohio, April 30 – Barclays Bank plc priced $3.6 million of 0% lookback entry buffered Performance Leveraged Upside Securities due Oct. 29, 2026 linked to a basket of four indexes, according to a 424B2 with the Securities and Exchange Commission.
The basket includes the S&P 500 index (43% weight), Topix index (28% weight), MSCI EAFE index (23% weight) and Russell 2000 index (6% weight).
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 200% of the basket return, capped at par plus 30%.
If the basket declines by 10% or less, the payout will be par. If the basket declines by more than 10%, investors will lose 1% for every 1% that the basket declines beyond 10%.
Barclays is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | Barclays Bank plc
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| Issue: | Lookback entry buffered Performance Leveraged Upside Securities
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| Underlying basket: | S&P 500 index (43% weight), Topix index (28% weight), MSCI EAFE index (23% weight), Russell 2000 index (6% weight)
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| Amount: | $3.6 million
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| Maturity: | Oct. 29, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 200% of the basket return, capped at par plus 30%; if the basket declines by 10% or less, par; otherwise, investors will lose 1% for every 1% that the basket declines beyond 10%
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| Initial level: | For each basket component, lowest closing level on any trading day between pricing date and May 24, inclusive
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| Buffer level: | 90% of initial level
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| Pricing date: | April 24
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| Settlement date: | April 29
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| Agent: | Barclays
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 1%
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| Cusip: | 06745QNT2
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