Published on 4/4/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.06 million buffered digital notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., April 4 – Barclays Bank plc priced $1.06 million of 0% buffered digital notes due Sept. 30, 2019 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus the digital percentage of 24%.
Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered digital notes
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Underlying index: | S&P 500
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Amount: | $1,057,000
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Maturity: | Sept. 30, 2019
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index return is greater than or equal to zero, par plus 24%; par if index declines by 15% or less; 1% loss for every 1% that index declines beyond 15%
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Initial index level: | 2,037.05
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Pricing date: | March 28
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Settlement date: | March 31
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Agents: | Barclays
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Fees: | 3%
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Cusip: | 06741U5V2
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