Published on 7/5/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $974,000 barrier SuperTrack notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., July 5 – Barclays Bank plc priced $974,000 of 0% barrier SuperTrack notes due July 2, 2024 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times any gain in the lesser-performing index.
If either index falls but neither falls by more than 70%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser-performing index below its initial level.
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, Russell 2000
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Amount: | $974,000
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Maturity: | July 2, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any gain in the lesser-performing index; if either index falls but neither falls by more than 70%, par; otherwise, 1% loss for every 1% decline of the lesser-performing index
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Initial levels: | 2,924.92 for S&P, 1,546.55 for Russell
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Barrier levels: | 2,047.44 for S&P, 1,082.59 for Russell; 70% of initial levels
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Pricing date: | June 27
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Settlement date: | July 2
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Agent: | Barclays
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Fees: | 1.125%
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Cusip: | 06747N2A1
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