Published on 1/30/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $21.5 million Accelerated Return Notes linked to index basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – Barclays Bank plc priced $21.5 million of 0% Accelerated Return Notes due March 29, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 18.63%. If the basket falls, investors will lose 1% for each 1% decline.
BofA Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Accelerated Return Notes
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Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $21,503,010
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Maturity: | March 29, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, up to 18.63% maximum return; 1% loss for each 1% decline
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Final basket level: | Average of basket’s final levels on five trading days ending Feb. 20, 2018
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Pricing date: | Jan. 26
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Settlement date: | Feb. 2
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06744M489
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