Published on 12/26/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $862,200 of five-year trigger gears tied to index, ADSs
By Susanna Moon
Chicago, Dec. 26 – Barclays Bank plc priced $862,200 of 0% trigger gears due Nov. 30, 2023 linked to an unequally weighted basket of one index and six stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Hang Seng index with a 70% weight, Alibaba Group Holding Ltd. with a 5% weight, Baidu, Inc. with a 5% weight, Ctrip.com International, Ltd. with a 5% weight, JD.com, Inc. with a 5% weight, NetEase, Inc. with a 5% weight and Weibo Corp. with a 5% weight.
The payout at maturity will be par plus 1.3 times any basket gain.
If the basket falls by up to 30%, the payout will be par.
If the basket finishes below the 70% downside threshold, investors will lose 1% for each 1% decline.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger gears
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Underlying basket: | Hang Seng index with a 70% weight, Alibaba Group Holding Ltd. (Symbol: BABA) with a 5% weight, Baidu, Inc. (Symbol: BIDU) with a 5% weight, Ctrip.com International, Ltd. (Symbol: CTRP) with a 5% weight, JD.com, Inc. (Symbol: JD) with a 5% weight, NetEase, Inc. (Symbol: NTES) with a 5% weight and Weibo Corp. (Symbol: WB) with a 5% weight
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Amount: | $862,200
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Maturity: | Nov. 30, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.3 times any basket gain; par if basket falls by up to 30%; otherwise, full exposure to losses
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Initial levels: | 26,682.56 for Hang Seng index, $159.34 for Alibaba, $188.44 for Baidu, $28.86 for Ctrip, $21.38 for JD, $233.60 for NetEase and $61.99 for Weibo
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Downside thresholds: | 70% of initial levels
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Pricing date: | Nov. 28
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Settlement date: | Nov. 30
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 06746V651
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