Published on 10/16/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.62 million trigger gears linked to Chinese index, stock basket
By Emma Trincal
New York, Oct. 16 – Barclays Bank plc priced $3.62 million of 0% trigger gears due Oct. 17, 2023 linked to an unequally weighted basket of one index and six equity securities, according to a424B2 filing with the Securities and Exchange Commission.
The basket consists of the Hang Seng index, with a weight of 70%, as well as six American depositary shares, each carrying a 5% weight. The ADSs are Alibaba Group Holding Ltd., Baidu, Inc., Ctrip.com International Ltd., JD.com, Inc., NetEase, Inc. and Weibo Corp.
The payout at maturity will be par of $10 plus 1.34 times any basket gain.
If the basket falls but not below the 70% downside threshold, the payout will be par.
Otherwise, 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: | Trigger gears
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| Underlying basket: | Hang Seng index with 70% weight; Alibaba Group Holding Ltd. (Symbol: BABA), Baidu, Inc. (Symbol: BIDU), Ctrip.com International, Ltd. (Symbol: CTRP), JD.com, Inc. (Symbol: JD), NetEase, Inc. (Symbol: NTES) and Weibo Corp. (Symbol: WB), each with 5% weight
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| Amount: | $3.62 million
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| Maturity: | Oct. 17, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket gains, par plus 1.34 times return; if basket falls by up to 30%, par; otherwise, 1% loss per 1% decline
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| Initial levels: | 25,801.49 for Hang Seng index, $147.29 for Alibaba, $204.36 for Baidu, $38.65 for Ctrip.com, $24.45 for JD.com, $220.88 for NetEase, $59.64 for Weibo
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| Downside threshold: | 70% of initial level
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 17
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 3.5%
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| Cusip: | 06746U240
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