Published on 4/23/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $410,000 digital notes linked to Wynn Resorts
By Wendy Van Sickle
Columbus, Ohio, April 23 – Barclays Bank plc priced $410,000 of 0% digital notes due May 5, 2021 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to 65% of the initial share price, the payout at maturity will be par of $10,000 plus 21.6%.
If the stock finishes below the 65% buffer value, investors will receive 196.07843 Wynn shares, which is equal to $10,000 divided by the buffer value.
Barclays is the agent. JPMorgan is the placement agent.
Issuer: | Barclays Bank plc
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Issue: | Digital notes
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Underlying stock: | Wynn Resorts, Ltd.
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Amount: | $410,000
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Maturity: | May 5, 2021
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Coupon: | 0%
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Price: | Par of $10,000
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Payout at maturity: | If the final share price is greater than or equal to the buffer value, par plus 21.6%; if the stock finishes below the buffer value, 196.07843 Wynn shares
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Initial share price: | $78.46
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Buffer value: | $51.00, 65% of initial share price
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Strike date: | April 17
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Pricing date: | April 20
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Settlement date: | April 23
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Agent: | Barclays with JPMorgan as placement agent
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Fees: | 1%
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Cusip: | 06741WGM6
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