Published on 4/22/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.12 million partial principal at risk notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, April 22 – Barclays Bank plc priced $6.12 million of 0% equity-linked partial principal at risk securities due May 5, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus the index return up to a maximum payout of 225% of par.
If the index finishes below its initial level, investors will be exposed to the decline, subject to a minimum payout of 90% of par.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
Issuer: | Barclays Bank plc
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Issue: | Equity-linked partial principal at risk securities
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Underlying index: | S&P 500
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Amount: | $6,119,000
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Maturity: | May 5, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above initial level, par plus index return, up to maximum payout of 225% of par; if index finishes below initial level, exposure to decline, subject to minimum payout of 90% of par
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Initial level: | 2,874.56
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Pricing date: | April 17
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Settlement date: | April 22
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Agent: | Barclays with Morgan Stanley Wealth Management as a dealer
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Fees: | 3.5%
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Cusip: | 06747G331
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