Published on 2/21/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.91 million trigger in-step notes linked to Russell 2000
By William Gullotti
Buffalo, N.Y., Feb. 21 – Barclays Bank plc priced $2.91 million of 0% trigger in-step securities due Feb. 19, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the downside threshold, 80% of the initial index level, the payout at maturity will be par of $10 plus the greater of 16% and the index return.
If the final index level is less than the downside threshold, investors will have one-to-one exposure to the index’s decline from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger in-step securities
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Underlying index: | Russell 2000 index
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Amount: | $2,906,000
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Maturity: | Feb. 19, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is greater than or equal to downside threshold, par plus greater of 16% and index return; if final index level is less than downside threshold, one-to-one exposure to index’s decline from initial level
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Initial index level: | 1,939.912
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Downside threshold: | 1,551.93; 80% of initial level
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Pricing date: | Feb. 14
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Settlement date: | Feb. 17
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 3%
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Cusip: | 06748F639
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