Published on 11/12/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.17 million leveraged market-linked notes tied to S&P 500 and Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – Barclays Bank plc priced $3.17 million of 0% market-linked securities with leveraged upside participation and contingent downside due Nov. 3, 2026 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 145% of any worst performing index gain.
Investors will receive par if the worst performing index falls by up to 30% and will be fully exposed to the decline of the worst performing index if it falls by more than 30%.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Market-linked securities with leveraged upside participation and contingent downside
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Underlying indexes: | S&P 500 index and Dow Jones industrial average
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Amount: | $3,167,000
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Maturity: | Nov. 3, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 145% of any worst performing index gain; par if the worst performing index falls by up to 30%; full exposure to losses of worst performing index if it falls by more than 30%
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Initial index level: | 26,659.11 for Dow, 3,310.11 for S&P
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Threshold level: | 18,661.377 for Dow, 2,317.077 for S&P, 70% of initial level
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Pricing date: | Oct. 29
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Settlement date: | Nov. 3
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Agents: | Wells Fargo Securities, LLC and Barclays Capital Inc.
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Fees: | 3.09%
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Cusip: | 06747QLU9
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