Published on 4/20/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $463,310 dual directional trigger PLUS tied to Stoxx
By Sarah Lizee
Olympia, Wash., April 20 – Barclays Bank plc priced $463,310 of 0% dual directional trigger Performance Leveraged Upside Securities due Oct. 15, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 133% of the index return. If the index declines by 35% or less, the payout will be par plus the absolute value of the index return. If the index declines by more than 35%, investors will lose 1% for every 1% that the index declines from its initial level.
Barclays is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | Barclays Bank plc
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Issue: | Dual directional trigger Performance Leveraged Upside Securities
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Underlying index: | Euro Stoxx 50
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Amount: | $463,310
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Maturity: | Oct. 15, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is greater than initial index level, par plus 133% of the index gain; if final index level is less than initial index level but greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, 1% loss for every 1% that index declines from initial level
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Initial index level: | 2,892.79
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Trigger level: | 1,880.31, 65% of initial level
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Pricing date: | April 9
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Settlement date: | April 16
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Agent: | Barclays
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 3.5%
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Cusip: | 06747G430
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