Published on 3/5/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.83 million contingent barrier notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 5 – Barclays Bank plc priced $1.83 million of 0% contingent barrier notes due Sept. 2, 2020 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 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 value, 82.35% of the initial index level, the payout will be par.
If the final index level is less than the barrier value, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent barrier notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,825,000
|
| Maturity: | Sept. 2, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level par plus index return; if final index level is less than or equal to 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 final index level is less than initial index level
|
| Initial index level: | 2,803.69
|
| Final index level: | Average of index’s closing levels on five trading days ending Aug. 28, 2020
|
| Barrier value: | 2,308.84, 82.35% of initial index level
|
| Pricing date: | March 1
|
| Settlement date: | March 6
|
| Agents: | Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.25%
|
| Cusip: | 06747MGR1
|
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