Published on 12/6/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $17.15 million notes with absolute return buffer on basket
By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Barclays Bank plc priced $17.15 million of 0% notes with absolute return buffer due Aug. 26, 2022 linked to a global equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is positive, the payout at maturity will be par plus 125% of the basket gain.
If the basket falls by up to 15%, the payout will be par plus the absolute value of the basket return.
Investors will be exposed to any basket decline beyond 15%.
BofA Securities, Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Notes with absolute return buffer
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Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $17,150,470.
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Maturity: | Nov. 25, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 125% of any basket gain; if basket falls by up to 15%, par plus the absolute value of the basket return; exposure to any basket decline beyond 15%
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Initial index levels: | 3,705.55 for Stoxx, 7,403.14 for FTSE, 23,373.32 for Nikkei, 10,506.93 for Swiss, 6,787.53 for S&P, 26,913.92 for Hang Seng
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Final levels: | Average of closing values on five trading days ending Nov. 18, 2022
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Pricing date: | Nov. 26
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Settlement date: | Dec. 4
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Agent: | BofA Securities, Inc.
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Fees: | 2.25%
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Cusip: | 06747D239
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