Published on 7/13/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $884,000 digital plus notes linked to S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, July 13 – Barclays Bank plc priced $884,000 of 0% digital plus notes due March 31, 2023 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus the greater of 25% and the lesser-performing index’s return.
If the lesser-performing index’s final level is less than its initial level but greater than or equal to its barrier value, 75% of its initial level, the payout at maturity will be par.
If the lesser-performing index’s final level is less than its barrier value, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Digital plus notes
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Underlying indexes: | S&P 500 index, Nasdaq-100 index
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Amount: | $884,000
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Maturity: | March 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing index’s final level is greater than or equal to initial level, par plus greater of 25% and lesser-performing index’s return; if lesser-performing index’s final level is less than initial level but greater than or equal to barrier value, par; if lesser-performing index’s final level is less than barrier value, 1% loss for every 1% that lesser-performing index declines from initial level
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Initial levels: | 3,100.29 for S&P, 10,156.85 for Nasdaq
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Barrier values: | 2,325.22 for S&P, 7,716.64 for Nasdaq, or 75% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Barclays
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Fees: | 1.35%
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Cusip: | 06747PWZ8
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