Published on 2/12/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.81 million digital plus notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Feb. 12 – Barclays Bank plc priced $2.81 million of 0% digital plus notes due Feb. 13, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the greater of 60% and the index return. If the final index level is less than the initial index level but greater than or equal to the barrier value, 70% of the initial index level, the payout at maturity will be par. If the final index level is less than the barrier value, investors will lose 1% for every 1% that the index declines from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Digital plus notes
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Underlying index: | S&P 500
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Amount: | $2,812,000
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Maturity: | Feb. 13, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to initial index level, par plus greater of 60% and index return; if final index level is less than initial index level but greater than or equal to barrier value, par; if final index level is less than barrier value, 1% loss for every 1% that index declines from initial level
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Initial index level: | 2,706.05 (closing level on Feb. 7)
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Barrier value: | 1,894.24, 70% of initial level
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Pricing date: | Feb. 8
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Settlement date: | Feb. 13
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Agent: | Barclays
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Fees: | None
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Cusip: | 06747ME93
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