Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $400,000 buffered SuperTrack notes linked to three ETFs
Chicago, Feb. 2 – Barclays Bank plc priced $400,000 of 0% buffered SuperTrack notes due May 14, 2027 linked to the least performing of the SPDR Dow Jones industrial average ETF Trust, the SPDR S&P 500 ETF Trust and the iShares Russell 1000 Growth ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing ETF’s return is positive, the payout at maturity will be par plus 1.5 times the least performing ETF’s return.
If the worst performer declines by 25% or less, the payout will be par. Otherwise, investors will lose 1.333333% for each 1% that the worst performer declines beyond 25%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered SuperTrack notes
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Underlying ETFs: | SPDR Dow Jones industrial average ETF Trust, SPDR S&P 500 ETF Trust and iShares Russell 1000 Growth ETF
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Amount: | $400,000
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Maturity: | May 14, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing ETF’s return is positive, par plus 1.5 times lesser-performing ETF’s return; if worst performer’s final level is less than or equal to initial level but greater than or equal to buffer level, par; otherwise, 1.333333% loss for every 1% that the worst performer declines beyond buffer
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Initial levels: | $412.13 for S&P, $333.33 for Dow, $248.98 for Russell
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Buffer levels: | $309.10 for S&P, $250.00 for Dow, $186.74 for Russell; 75% of initial levels
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Pricing date: | May 11, 2023
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Settlement date: | May 16, 2023
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Agent: | Barclays
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Fees: | 0.3%
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Cusip: | 06745MDC9
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