Published on 8/5/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.1 million trigger step notes linked to index basket
By Kiku Steinfeld
Chicago, Aug. 5 – Barclays Bank plc. priced $3.1 million of 0% trigger step securities due July 31, 2025 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 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.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of the basket return and the step return of 34.15%.
Investors will receive par if the basket declines by 25% or less and will lose 1% for each 1% decline from its initial level if the basket falls more than 25%.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger step securities
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| Underlying index: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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| Amount: | $3,104,500
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| Maturity: | July 31, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket return is zero or positive, par plus greater of 34.15% and return; par if basket declines by up to 25%; 1% loss for each 1% decline if basket falls beyond 25%
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| Initial levels: | 3,300.16 for Stoxx, 22,397.11 for FTSE, 6,131.46 Nikkei, 6,006.385 for Swiss, 10,272.81 for S&P/ASX, 24,883.14 for Hang Seng
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| Downside threshold: | 75% of initial level
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| Pricing date: | July 29
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| Settlement date: | July 31
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| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 3.5%
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| Cusip: | 06747J533
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