Published on 10/3/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.28 million three-year trigger gears linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Oct. 3 – Barclays Bank plc priced $3.28 million of 0% trigger gears due Sept. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.385 times the index gain.
If the index falls by up to 20%, the payout will be par.
Investors will lose 1% for every 1% decline below the initial level if the index finishes below the 80% downside threshold.
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 index: | S&P 500
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Amount: | $3,278,000
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Maturity: | Sept. 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.385 times any index gain; par if index falls by up to 20%; otherwise, full exposure to losses
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Initial index level: | 2,496.84
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Downside threshold: | 1,997.47, 80% of initial level
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Pricing date: | Sept. 26
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Settlement date: | Sept. 29
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | None
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Cusip: | 06746L166
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