Published on 8/19/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.62 million 6.75% buffered fixed-coupon notes on S&P, Nasdaq
By Taylor Fox
New York, Aug. 19 – Barclays Bank plc priced $3.62 million of 6.75% buffered fixed-coupon notes due Aug. 19, 2021 linked to the S&P 500 index and the Nasdaq 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If each asset finishes at or above 80% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% per 1% decline of the lesser performing index beyond the 20% buffer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered fixed-coupon notes
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Underlying indexes: | S&P 500 index, Nasdaq 100 index
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Amount: | $3.62 million
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Maturity: | Aug. 19, 2021
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Coupon: | 6.75%, payable monthly
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Price: | Par
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Payout at maturity: | If each index finishes at or above buffer level, par; otherwise, 1% loss for every 1% decline of lesser performing index beyond buffer
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Initial levels: | 11,178.37 for Nasdaq, 3,373.43 for S&P
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Buffer levels: | 8.942.7 for Nasdaq, 2,698.74 for S&P, 80% of initial levels
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Pricing date: | Aug. 14
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Settlement date: | Aug. 19
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Agent: | Barclays
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Fees: | None
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Cusip: | 06747QEA1
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