Published on 1/30/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7.99 million trigger performance notes tied to S&P 500
By Marisa Wong
Madison, Wis., Jan. 30 - Barclays Bank plc priced $7.99 million of 0% trigger performance securities due Jan. 31, 2019 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 of $10 plus 131.5% of any index gain.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% trigger level.
Barclays and UBS Financial Services Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger performance securities
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Underlying index: | S&P 500
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Amount: | $7,990,830
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Maturity date: | Jan. 31, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 131.5% of any index gain; par if index falls by up to 25%; otherwise, full exposure to losses
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Initial index level: | 1,792.50
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Trigger level: | 1,344.38, 75% of initial level
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 06742K402
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