Published on 8/10/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5.73 million trigger gears linked to six index basket
By William Gullotti
Buffalo, N.Y., Aug. 10 – Barclays Bank plc priced $5.73 million of 0% trigger gears due June 18, 2031 linked to a basket of equity indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 45% weight, the Euro Stoxx 50 index with a 22% weight, the Nikkei 225 index with a 13.75% weight, the FTSE 100 index with a 9.625% weight, the Swiss Market index with a 5.5% weight and the S&P/ASX 200 index with a 4.125%weight.
The payout at maturity will be par plus 1.7 times any basket gain.
If the basket finishes flat or falls by up to 35%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the basket declines below the initial level.
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 indexes: | S&P 500 index (45% weight), Euro Stoxx 50 index (22% weight), Nikkei 225 index (13.75% weight), FTSE 100 index (9.625% weight), Swiss Market index (5.5% weight) and S&P/ASX 200 index (4.125%) weight
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Amount: | $5,729,000
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Maturity: | June 18, 2031
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.7 times any basket gain; par if basket finishes flat or falls by up to 35%; otherwise, full exposure to any basket decline from initial level
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Initial index levels: | 4,255.15 for S&P, 4,132.67 for Euro Stoxx, 29,161.8 for Nikkei 225, 7,146.68 for FTSE 100, 11,866.41 for Swiss Market, 7,379.47 for S&P/ASX 200
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Downside threshold: | 65% of initial level
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Strike date: | June 15 for S&P/ASX 200 only
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Pricing date: | June 14
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Settlement date: | June 17
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 5%
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Cusip: | 06747T234
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