Published on 8/17/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $10.83 million trigger PLUS linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – Barclays Bank plc priced $10.83 million of 0% trigger Performance Leveraged Upside Securities due Aug. 18, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 125% of any index gain.
Investors will receive par if the index falls by up to 35% and will be fully exposed to any losses if the index finishes below the 65% trigger level.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
Issuer: | Barclays Bank plc
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $10,829,240
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Maturity: | Aug. 18, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any index gain; par if the index falls by up to 35%; full exposure to any losses if the index finishes below the trigger value
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Initial level: | 2,464.61
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Trigger value: | 1,602.00, 65% of initial level
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Pricing date: | Aug. 15
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Settlement date: | Aug. 18
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Agent: | Barclays
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3.5%
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Cusip: | 06746L455
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