Published on 5/28/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $581,000 barrier SuperTrack notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 28 – Barclays Bank plc priced $581,000 of 0% barrier SuperTrack notes due May 25, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s return is positive, the payout at maturity will be par plus 1.26 times the lesser-performing index’s return. If the lesser-performing index declines by 40% or less, the payout will be par. If it declines by more than 40%, investors will lose 1% for each 1% that the lesser-performing index declines from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Barrier SuperTrack notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $581,000
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Maturity: | May 25, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing index’s return is positive, par plus 1.26 times lesser-performing index’s return; if lesser-performing index’s final level is less than or equal to initial level but greater than or equal to barrier level, par; if lesser-performing index’s final level is less than barrier level, 1% loss for every 1% that lesser-performing index declines from initial level
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Initial level: | 2,955.45 for S&P, 1,355.53 for Russell
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Barrier levels: | 1,773.27 for S&P, 813.32 for Russell; 60% of initial levels
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Pricing date: | May 22
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Settlement date: | May 29
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Agent: | Barclays
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Fees: | 0.85%
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Cusip: | 06747PUW7
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