Published on 1/22/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $577,000 buffered SuperTrack notes tied to gold, silver ETFs
By Wendy Van Sickle
Columbus, Ohio, Jan. 22 – Barclays Bank plc priced $577,000 of 0% buffered SuperTrack notes due July 20, 2023 linked to the SPDR Gold trust and the iShares silver trust, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF finishes at or above its initial level, the payout at maturity will be par plus 1.6 times the gain of the worse performing ETF.
If either ETF falls by up to 10%, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing ETF beyond the buffer.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered SuperTrack notes
|
| Underlying ETFs: | SPDR Gold trust and iShares Silver trust
|
| Amount: | $577,000
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| Maturity: | July 20, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each ETF gains, par plus 1.6 times return of worse performing ETF; if either ETF falls by up to 10%, par; otherwise, 1% loss per 1% decline of worse performing ETF beyond 10%
|
| Initial levels: | $146.58 for gold trust and $16.82 for silver trust
|
| Buffer levels: | $131.92 for gold trust and $15.14 for silver trust; 90% of initial levels
|
| Pricing date: | Jan. 17
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| Settlement date: | Jan. 23
|
| Agent: | Barclays
|
| Fees: | 0.75%
|
| Cusip: | 06747NZL1
|
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