Published on 10/13/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million capped buffer in-gears linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – Barclays Bank plc priced $2 million of 0% capped buffer in-gears due Nov. 24, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lesser-performing index is greater than negative 12%, the payout at maturity will be par of $10 plus 1.375 times the sum of the lesser-performing index’s return plus 12%, subject to a maximum return of 55%.
If the return of the lesser-performing index is less than or equal to negative 12% but greater than or equal to negative 16%, the payout will be par.
If the return of the lesser-performing index is less than negative 12%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 12%.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Capped buffer in-gears
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $2 million
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| Maturity: | Nov. 24, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If lesser-performing index’s return is greater than negative 12%, par plus 1.375 times sum of lesser-performing index’s return plus 12%, subject to 55% maximum return; if lesser-performing index’s return is less than or equal to negative 12% but greater than or equal to negative 12%, par; if lesser-performing index’s return is less than negative 12%, 1% loss for every 1% that lesser-performing index declines beyond 12%
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| Initial index levels: | 2,534.58 for S&P 500 and 1,511.967 for Russell 2000
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| Downside threshold: | 2,230.43 for S&P 500 and 1,330.531 for Russell 2000
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 11
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| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
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| Fees: | 0.45%
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| Cusip: | 06746M412
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