Published on 5/14/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.07 million leveraged market-linked notes tied to fund basket
By Susanna Moon
Chicago, May 14 – Barclays Bank plc priced $2.07 million of 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 3, 2022 linked to a basket of exchange-traded funds, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF Trust with a 50% weight, the iShares Russell 2000 ETF with a 15% weight, the iShares MSCI EAFE ETF with a 15% weight, the iShares MSCI Emerging Markets ETF with a 10% weight, the PowerShares DB Commodity Index Tracking Fund with a 5% weight and the Vanguard Real Estate ETF with a 5%.
The payout at maturity will be par plus 150% times any basket gain, up to a maximum return of 45%.
Investors will receive par if the basket falls by up to 15% and lose 1% for each 1% decline beyond 15%.
Wells Fargo Securities, LLC and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside
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| Underlying basket: | SPDR S&P 500 ETF Trust (50% weight), iShares Russell 2000 ETF (15% weight), iShares MSCI EAFE ETF (15% weight), iShares MSCI Emerging Markets ETF (10% weight), PowerShares DB Commodity Index Tracking Fund (5% weight) and Vanguard Real Estate ETF (5% weight)
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| Amount: | $1,189,000
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| Maturity: | Nov. 3, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any basket gain, capped at 45%; par if basket falls by up to 15%; 1% loss for every 1% drop beyond 15%
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| Initial levels: | $264.51 for S&P fund, $153.32 for Russell fund, $70.74 for EAFE ETF fund, $46.92 for EM fund, $17.56 for commodity fund and $76.09 for real estate fund
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| Pricing date: | April 30
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| Settlement date: | May 3
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| Agents: | Wells Fargo Securities, LLC and Barclays
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| Fees: | 3.73%
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| Cusip: | 06746X3Y7
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