Published on 6/28/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $11.19 million trigger step securities tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 28 – Barclays Bank plc priced $11.19 million of 0% trigger step securities due June 30, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and the step return of 29.45%.
Investors will receive par if the index declines by 25% or less and will be exposed to the index’s decline from its initial level if it declines beyond 25%.
Barclays and UBS Financial Services Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger step securities
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Underlying index: | S&P 500
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Amount: | $11,194,150
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Maturity: | June 30, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is zero or positive, par plus greater of 29.45% and return; par if index declines by up to 25%; full exposure to losses if index falls beyond 25%
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Initial value: | 2,723.06
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Downside threshold: | 2,042.30, 75% of initial value
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Pricing date: | June 26
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Settlement date: | June 29
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 3%
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Cusip: | 06746T854
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