Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.68 million trigger absolute return step notes on S&P
By Wendy Van Sickle
Columbus, Ohio, July 30 – Barclays Bank plc priced $1.68 million of 0% trigger absolute return step securities due July 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the step return of 35.15%.
If the index falls by up to its 75% downside threshold, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
Barclays and UBS Financial Services Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger absolute return step securities
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Underlying index: | S&P 500
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Amount: | $1,679,100
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Maturity: | July 31, 2024
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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 its initial level, par plus the greater of the gain and the step return of 35.15%; if the index falls by up to the downside threshold, par plus the absolute value of the return; otherwise, full exposure to any losses
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Initial level: | 3,025.86
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Downside threshold: | 2,269.4, 75% of initial level
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Pricing date: | July 26
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Settlement date: | July 31
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 0%
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Cusip: | 06747C793
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