Published on 7/14/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $26.19 million market-linked step-up notes tied to MSCI ACWI ex USA
By Marisa Wong
Morgantown, W.Va., July 14 – Barclays Bank plc priced $26.19 million of 0% market-linked step-up notes due June 27, 2019 linked to the MSCI ACWI ex USA index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the step-up value – 117.25% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 17.25%.
Investors will lose 1% for each 1% index decline.
BofA Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Market-linked step-up notes
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Underlying index: | MSCI ACWI ex USA index
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Amount: | $26,192,120
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Maturity: | June 27, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes at or above the step-up value, par plus the index gain; if the index is unchanged or gains by up to the step-up level, par plus 17.25%; otherwise, investors will lose 1% for each 1% index decline
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Initial level: | 278.38
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Step-up level: | 326.40, 117.25% of initial level
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Pricing date: | June 29
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Settlement date: | July 7
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Agent: | BofA Merrill Lynch
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Fees: | 2% Cusip: | 06746K473
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