Published on 7/16/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.19 buffered SuperTrack notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 16 – Barclays Bank plc priced $1.19 million of 0% buffered SuperTrack notes due July 11, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 2 times the index return, capped at par plus 26%.
If the index declines up to 15%, investors will receive par. Otherwise, investors will lose 1% for each 1% decline beyond the 15% buffer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered SuperTrack notes
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Underlying index: | S&P 500
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Amount: | $1,185,000
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Maturity: | July 11, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain, capped at par plus 26%; par if index declines by up to 15%; otherwise, 1% loss for each 1% decline beyond 15%
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Initial level: | 3,179.72
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Buffer level: | 2,702.76, 85% of initial level
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Pricing date: | July 6
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Settlement date: | July 9
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Agent: | Barclays
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Fees: | 1.2%
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Cusip: | 06747Q3A3
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