Published on 7/31/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.42 million three-year capped trigger gears on S&P 500
By Susanna Moon
Chicago, July 31 – Barclays Bank plc priced $4.42 million of 0% trigger gears due July 29, 2021 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 31%.
If the index falls by up to 25%, the payout will be par.
If the index finishes below the 75% downside threshold, investors will be fully exposed to any losses.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Capped trigger gears
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Underlying index: | S&P 500
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Amount: | $4,417,670
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Maturity: | July 29, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2 times any index gain, capped at 31%; par if index falls by up to 25%; otherwise, 1% loss for each 1% decline
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Initial index level: | 2,837.44
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Downside threshold: | 2,128.08, 75% of initial level
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Pricing date: | July 26
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Settlement date: | July 31
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 06746T581
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