Published on 12/24/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7.56 million buffered PLUS linked to S&P 500
By Kiku Steinfeld
Chicago, Dec. 24 – Barclays Bank plc priced $7.56 million of 0% buffered Performance Leveraged Upside Securities due June 5, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus twice the index return, capped at 15.1%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
Issuer: | Barclays Bank plc
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $7,556,510
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Maturity: | June 5, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus twice index return, capped at 15.1%; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 3,621.63
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Buffer level: | 3,259.47, 90% of initial level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 3
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Agent: | Barclays with Morgan Stanley Wealth Management as a dealer
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Fees: | 3%
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Cusip: | 06747L702
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