By Wendy Van Sickle
Columbus, Ohio, Sept. 12 – Barclays Bank plc priced $9.66 million of 0% market-linked step-up notes due Aug. 28, 2020 linked to the Energy Select Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index increases above the step-up value, 116.8% of the initial value, the payout at maturity will be par plus any gain in the index.
If the index is flat or increases up to the step-up value, the payout will be par plus a fixed return of 16.8%.
Investors will be exposed to any declines in the index.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Market-linked step-up notes
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| Underlying index: | Energy Select Sector
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| Amount: | $9,656,850
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| Maturity: | Aug. 28, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 16.8%; exposure to any decline
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| Initial level: | 753.6
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| Step-up value: | 880.2, 116.8% of initial level
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| Pricing date: | Aug. 30
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| Settlement date: | Sept. 7
|
| Underwriter: | BofA Merrill Lynch
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| Fees: | 2%
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| Cusip: | 06746T268
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