Published on 8/5/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.08 million buffered SuperTrack notes tied to S&P 500
By Kiku Steinfeld
Chicago, Aug. 5 – Barclays Bank plc priced $1.08 million of 0% buffered SuperTrack notes due Jan. 31, 2023 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 2 times any index gain, capped at 20%.
If the index falls by up to 10%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 10%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered SuperTrack notes
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Underlying index: | S&P 500 index
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Amount: | $1,076,000
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Maturity: | Jan. 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain, capped at 20%; par if index falls by up to 10%; otherwise, 1% loss for every 1% decline beyond 10%
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Initial index level: | 3,218.4
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Buffer level: | 2,896.60 or 90% of initial level
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | Barclays
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Fees: | 2.8%
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Cusip: | 06747Q5Q6
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