Published on 6/26/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.73 million buffered autocallable notes tied to S&P
By Wendy Van Sickle
Columbus, Ohio, June 26 – Barclays Bank plc priced $5.73 million of 0% buffered autocallable notes due June 23, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 8% if the index closes at or above its initial level on June 18, 2021.
The payout at maturity will be par plus 3.5 times any index gain. If the index falls by up to 10%, the payout will be par. Investors will be exposed to losses beyond 10%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered autocallable notes
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Index: | S&P 500 index
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Amount: | $5,733,000
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Maturity: | June 23, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3.5 times any index gain; par if index falls by up to 10%; exposure to losses beyond 10%
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Call: | Automatically at par 8% if index closes at or above initial level on June 18, 2021
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Initial levels: | 3,097.74
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Buffer levels: | 2,787.97; 90% of initial levels
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Pricing date: | June 19
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Settlement date: | June 24
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06747PZU6
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