Published on 2/26/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $6.54 million contingent barrier return enhanced notes on S&P
By Sarah Lizee
Olympia, Wash., Feb. 26 – Barclays Bank plc priced $6.54 million of 0% contingent barrier return enhanced notes due Feb. 24, 2022 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 the initial index level, the payout at maturity will be par plus 1.25 times the index return.
If the final index level is less than or equal to the initial index level but greater than or equal to the barrier level, 77.75% of the initial index level, the payout at maturity will be par.
If the final index level is less than the barrier level, investors will lose 1% for every 1% that the index declines from its initial level.
Barclays is the underwriter, with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent barrier return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $6,544,000
|
| Maturity: | Feb. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus 1.25 times the index return; if final index level is less than or equal to initial index level but greater than or equal to barrier level, par; if final index level is less than barrier level, 1% loss for every 1% that index declines from initial level
|
| Initial index level: | 2,792.67
|
| Final index level: | Average of index’s closing levels on five trading days ending Feb. 18, 2022
|
| Barrier value: | 2,171.30, 77.75% of initial index level
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 24
|
| Agent: | Barclays, with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
|
| Fees: | 2%
|
| Cusip: | 06747MEY8
|
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