Published on 5/5/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.61 million two-year trigger jump notes tied to Apple
By Susanna Moon
Chicago, May 5 – Barclays Bank plc priced $2.61 million of trigger jump securities due May 3, 2019 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above its initial level, the payout at maturity will be par of $10 plus a fixed return of 26.7%.
Investors will receive par if the index falls by up to 10% and will be fully exposed to any losses if the index finishes below the 90% trigger level.
Barclays is the agent, with Morgan Stanley Wealth Management as dealer.
Issuer: | Barclays Bank plc
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Issue: | Trigger jump securities
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Underlying stock: | Apple Inc. (Symbol: AAPL)
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Amount: | $2,606,490
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Maturity: | May 3, 2019
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Coupon: | 8.25% per year, payable quarterly if shares close at or above downside threshold level on determination date for that quarter
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Price: | Par of $10.00
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Payout at maturity: | If stock gains, par plus 26.7%; if index falls by up to 10%, par; otherwise, full exposure to any losses
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Initial share price: | $143.65
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Downside threshold: | $129.29, 90% of initial share price
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Pricing date: | April 28
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Settlement date: | May 3
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Agent: | Barclays
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 2%
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Cusip: | 06746J591
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