Published on 7/15/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $6.59 million capped buffer gears on SPDR S&P MidCap 400
By Marisa Wong
Los Angeles, July 15 – Barclays Bank plc priced $6,591,350 of 0% capped buffer gears due June 30, 2022 linked to the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 2 times the ETF return, capped at par plus 24.35%. Investors will receive par if the ETF declines by 10% or less and lose 1% for every 1% that the ETF declines beyond 10%.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Capped buffer gears
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Underlying ETF: | SPDR S&P MidCap 400 ETF Trust
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Amount: | $6,591,350
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Maturity: | June 30, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the ETF return is greater than zero, par plus 2 times the ETF return, capped at par plus 24.35%; par if the ETF declines by 10% or less; 1% loss for every 1% ETF decline beyond 10%
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Initial price: | $319.33
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Downside threshold: | $287.40, 90% of initial price
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Pricing date: | June 25
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Settlement date: | June 30
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 2%
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Cusip: | 06747H156
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