Published on 2/1/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7.59 million market-linked step-up notes on Nikkei 225
By Marisa Wong
Morgantown, W.Va., Feb. 1 – Barclays Bank plc priced $7,590,860 of 0% market-linked step-up notes due Jan. 31, 2020 linked to the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up level – 120.5% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 20.5%.
Investors will be fully exposed to any index decline.
BofA Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Market-linked step-up notes
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Underlying index: | Nikkei 225
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Amount: | $7,590,860
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Maturity: | Jan. 31, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 20.5%; full exposure to losses
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Initial level: | 23,669.49
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Step-up value: | 28,521.74, 120.5% of initial level
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Pricing date: | Jan. 25
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Settlement date: | Feb. 1
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06746N154
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