Published on 10/4/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.11 million capped buffer gears linked to S&P 500
By Marisa Wong
Los Angeles, Oct. 5 – Barclays Bank plc priced $4.11 million of 0% capped buffer gears due Sept. 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 2 times the index return, capped at par plus 17.5%. Investors will receive par if the index declines by 10% or less and lose 1% for every 1% that the index declines beyond 10%.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Capped buffer gears
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Underlying index: | S&P 500
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Amount: | $4,113,000
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Maturity: | Sept. 29, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index return is greater than zero, par plus 2 times the index return, capped at par plus 17.5%; par if the index declines by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial index level: | 3,298.46
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Downside threshold: | 2,968.61, 90% of initial level
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 2%
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Cusip: | 06747K514
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