It's hard to say for sure. Some parts of the story might be based on real events, but there could also be fictional elements added for dramatic effect.
Barry Allen's death in the comics is a complex situation. Sometimes he does die, but often there are plot twists and resurrections as part of the ongoing comic narrative. It all depends on the creative direction of the writers and the demands of the story at that time.
In certain comic versions, Barry Allen is indeed identified as Jewish. This aspect is sometimes incorporated into his character background and story arcs.