Published on 5/8/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.19 million barrier SuperTrack notes linked to S&P, Dow
By Kiku Steinfeld
Chicago, May 10 – Barclays Bank plc priced $1.19 million of 0% barrier SuperTrack notes due April 28, 2027 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s return is positive, the payout at maturity will be par plus 1.2 times the lesser-performing index’s return. If the lesser-performing index declines by 25% or less, the payout will be par. Investors will lose 1% for each 1% that the lesser-performing index declines from its initial level if it falls by more than 25%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Barrier SuperTrack notes
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Underlying indexes: | S&P 500 and Dow Jones industrial average
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Amount: | $1,191,000
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Maturity: | April 28, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing index’s return is positive, par plus 1.2 times lesser-performing index’s return; if lesser-performing index’s final level is less than or equal to initial level but greater than or equal to barrier level, par; if lesser-performing index’s final level is less than barrier level, 1% loss for every 1% that lesser-performing index declines from initial level
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Initial level: | 4,180.17 for S&P, 34,043.49 for Dow
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Barrier levels: | 3,135.13 for S&P, 25,532.62 for Dow; 75% of initial levels
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Pricing date: | April 23
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Settlement date: | April 28
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Agent: | Barclays
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Fees: | 4.25%
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Cusip: | 06748EJ79
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