Published on 1/22/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.23 million buffered PLUS due 2020 linked to S&P 500
By Tali Rackner
Minneapolis, Jan. 22 – Barclays Bank plc priced $2.23 million of 0% buffered Performance Leveraged Upside Securities due Aug. 5, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 18.25%.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond the buffer.
Barclays is the agent. Morgan Stanley Wealth Management is 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: | $2,228,000
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Maturity: | Aug. 5, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus double any index gain, capped at 18.25%; par if index falls by up to 10%; 1% loss per 1% decline beyond 10%
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Initial index level: | 2,786.24
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Pricing date: | Jan. 12
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Settlement date: | Jan. 18
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Agent: | Barclays
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.5%
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Cusip: | 06746P829
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