Published on 4/16/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.38 million seven-year notes linked to basket of ADSs
By Susanna Moon
Chicago, April 16 – Barclays Bank plc priced $1.38 million of notes due April 13, 2022 linked to an equally weighted basket of American Depositary Shares, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are AstraZeneca plc, Baidu, Inc., BP plc, GlaxoSmithKline plc, HSBC Holdings plc, SAP SE, Sanofi and Deutsche Bank AG.
The notes will pay an annual coupon using the arithmetic average of the stock performances of the basket components on the determination date, with a minimum coupon of 0%.
If a stock's return is at least zero, its performance will be the return cap of 9.6%. If the return is negative, its performance will be the greater of the stock return and negative 10%.
The payout at maturity will be par.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
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| Issue: | Notes
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| Underlying shares: | AstraZeneca plc, Baidu, Inc., BP plc, GlaxoSmithKline plc, HSBC Holdings plc, SAP SE, Sanofi and Deutsche Bank AG, equally weighted
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| Amount: | $1,384,000
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| Maturity: | April 13, 2022
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| Coupon: | Arithmetic average of the stock performances, payable annually, with a return cap of 9.6%, a return floor of negative 10% and minimum coupon of 0%
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | April 13
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| Settlement date: | April 16
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| Underwriter: | Barclays
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| Fees: | 0.8%
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| Cusip: | 06741UUF9
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