Published on 9/6/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1 million digital notes linked to Constellation Brands
By Marisa Wong
Los Angeles, Sept. 8 – Barclays Bank plc priced $1 million of 0% digital notes due Sept. 10, 2021 linked to the common stock of Constellation Brands, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to 70% of the initial share price, the payout at maturity will be par plus 6.9%.
If the stock finishes below the 70% barrier value, investors will be fully exposed to the share price decline.
Barclays is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Barclays Bank plc
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Issue: | Digital notes
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Underlying stock: | Constellation Brands, Inc. (Symbol: STZ)
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Amount: | $1 million
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Maturity: | Sept. 10, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final share price is greater than or equal to the barrier value, par plus 6.9%; otherwise, full exposure to losses
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Initial share price: | $180.18
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Barrier value: | $126.13, 70% of initial share price
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agents: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agent
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Fees: | 1%
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Cusip: | 06747QFF9
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