Published on 7/21/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.5 million trigger PLUS tied to S&P 500
By Taylor Fox
Chicago, July 21 – Barclays Bank plc priced $5,489,670 of 0% trigger Performance Leveraged Upside Securities due Aug. 5, 2026 linked to the S&P 500 index, according to a 424B2 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 of $10 plus 115% of the index return. If the index declines by 35% or less, the payout will be par. If the index declines by more than 35%, investors will lose 1% for every 1% that the index declines from its initial level.
Barclays is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | Barclays Bank plc
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $5,489,670
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Maturity: | Aug. 5, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 115% of the index return; if the index declines by 35% or less, the payout will be par; if the index declines by more than 35%, investors will lose 1% for every 1% that the index declines from its initial level
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Initial index level: | 3,224.73
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Trigger level: | 2,096.07, 65% of initial level
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Pricing date: | July 17
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Settlement date: | July 22
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Agent: | Barclays
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 3.5%
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Cusip: | 06747J731
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