Published on 6/18/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.38 million digital plus notes linked to Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, June 18 – Barclays Bank plc priced $8.38 million of 0% digital plus notes due Feb. 23, 2022 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus the greater of 20% and the lesser-performing index’s return.
If the lesser-performing index’s final level is less than its initial level but greater than or equal to its barrier value, 90% of its initial level, the payout at maturity will be par.
If the lesser-performing index’s final level is less than its barrier value, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Digital plus notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $8,384,000
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| Maturity: | Feb. 23, 2022
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If lesser-performing index’s final level is greater than or equal to initial level, par plus greater of 20% and lesser-performing index’s return; if lesser-performing index’s final level is less than initial level but greater than or equal to barrier value, par; if lesser-performing index’s final level is less than barrier value, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Initial levels: | 25,128.17 for Dow and 9,588.48 for Nasdaq-100
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| Barrier values: | 22,615.35 for Dow and 8,629.63 or Nasdaq-100, or 90% of initial levels
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| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Agent: | Barclays
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| Fees: | 0.35%
|
| Cusip: | 06747PZ85
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