Published on 6/1/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $382,000 notes due 2024 linked to S&P, Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, June 1 – Barclays Bank plc priced $382,000 of notes due May 31, 2024 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 3.5% if each index closes at or above its 70% coupon barrier on a related observation date.
The payout at maturity will be par plus any gain of the least performing index. If the least performing index closes below its barrier level, 70% of its initial level, investors will be fully exposed to its decline from initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Notes
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Underlying indexes: | Dow Jones industrial average, S&P 500, Nasdaq-100
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Amount: | $382,000
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Maturity: | May 31, 2024
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Contingent coupon: | 3.5% annually, payable quarterly if each index closes at or above barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par plus any gain of least performing index; exposure to decline of least performing index if it closes below barrier level
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Initial levels: | 24,995.11 for Dow, 2,991.77 for S&P and 9,389.98 for Nasdaq
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Coupon barrier/barrier levels: | 17,496.58 for Dow, 2,094.24 for S&P and 6,572.97 for Nasdaq; 70% of initial levels
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Pricing date: | May 26
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Settlement date: | May 29
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Agent: | Barclays
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Fees: | 3.65%
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Cusip: | 06747PTJ8
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