Published on 5/30/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.73 million airbag return notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., May 30 - Barclays Bank plc priced $1.73 million of airbag return optimization notes due May 31, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 31.26%. If the index declines by 20% or less, the payout will be par. Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.
UBS Financial Services Inc. and Barclays are the underwriters.
Issuer: | Barclays Bank plc
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Issue: | Airbag return optimization notes
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Underlying index: | Euro Stoxx 50
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Amount: | $1,734,000
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Maturity: | May 31, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 150% of index return, subject to maximum return of 31.26%; if index declines by 20% or less, par; otherwise, 1.25% loss for every 1% that index declines beyond 20%
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Initial index level: | 3,246.24
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Pricing date: | May 28
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Settlement date: | May 30
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Underwriters: | UBS Financial Services Inc. and Barclays
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Fees: | 2.5%
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Cusip: | 06742K378
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