Published on 11/16/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $90,000 notes linked to S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Nov. 16 – Barclays Bank plc priced $90,000 of 0% notes due Oct. 31, 2023 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s return is greater than or equal to zero, the payout at maturity will be par plus the return of the lesser-performing index, subject to a maximum return of 11.5%.
If the lesser-performing index’s return is less than zero but greater than or equal to negative 10%, investors will be exposed to the decline of the lesser-performing index.
If the lesser-performing index’s return is less than negative 10%, the payout will be $900 per $1,000 principal amount of notes.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $90,000
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Maturity: | Oct. 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 return is greater than or equal to zero, par plus return of lesser-performing index, subject to maximum return of 11.5%; if lesser-performing index’s return is less than zero but greater than or equal to negative 10%, exposure to lesser-performing index’s decline; if lesser-performing index’s return is less than negative 10%, $900 per $1,000 principal amount of notes
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Initial levels: | 3,269.96 for S&P 500 and 1,538.48 for Russell 2000
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Pricing date: | Oct. 30
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Settlement date: | Nov. 4
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06747QM87
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