Published on 4/21/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.08 million contingent barrier return enhanced notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, April 21 – Barclays Bank plc priced $3.08 million of 0% contingent barrier return enhanced notes due April 20, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 1.2 times the index return.
If the final index level is less than or equal to the initial index level but greater than or equal to the barrier value, 80% of the initial index level, the payout will be par.
If the final index level is less than the barrier value, investors will lose 1% for every 1% that the index declines from its initial level.
Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent barrier return enhanced notes
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| Underlying index: | S&P 500
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| Amount: | $3,075,000
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| Maturity: | April 20, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level is greater than initial index level, par plus 1.2 times index return; if final index level is less than or equal to initial index level but greater than or equal to barrier value, par; if final index level is less than barrier value, 1% loss for every 1% that index declines from initial level
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| Initial level: | 2,799.55
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| Final level: | Average of index’s closing levels on five trading days ending April 17, 2023
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| Barrier value: | 2,239.64, 80% of initial index level
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agents: | Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 2%
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| Cusip: | 06747PPB9
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