Published on 8/30/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.41 million buffered digital notes on Nasdaq, Dow
By Taylor Fox
New York, Aug. 31 – Barclays Bank plc priced $1.41 million of 0% buffered digital notes due Sept. 23, 2021 linked to the lesser performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least performing index is greater than or equal to 90% of its initial level, the payout at maturity will be par plus 11.7%.
If the final level of the least performing index is less than 90% of its initial level, investors will have 1-to-1 exposure to the losses of the worst performer beyond the 10% buffer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered digital notes
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Underlying indexes: | Nasdaq-100 index and Dow Jones industrial average
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Amount: | $1,405,000
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Maturity: | Sept. 23, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of the least performing index is greater than or equal to its buffer level, the payout at maturity will be par plus 11.7%; if the final level of the least performing index is less than 90% of its initial level, investors will have 1-to-1 exposure to the losses of the worst performer beyond the 10% buffer
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Initial index levels: | 11,399.03 for Nasdaq, 27,778.07 for Dow
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Buffer levels: | 10,259.13 for Nasdaq, 25,000.26 for Dow, 90% of initial levels
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Pricing date: | Aug. 18
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Settlement date: | Aug. 21
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Agent: | Barclays
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Fees: | 0.525%
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Cusip: | 06747QE78
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