Published on 3/24/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.16 million contingent buffered notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., March 24 – Barclays Bank plc priced $3.16 million of 0% contingent buffered notes due Sept. 19, 2018 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 any index gain. If the index finishes flat or falls but finishes at or above the 83.4% barrier level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
Issuer: | Barclays Bank plc
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Issue: | Contingent buffered notes
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Underlying index: | S&P 500 index
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Amount: | $3.16 million
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Maturity: | Sept. 19, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; if the index finishes flat or falls but finishes at or above barrier level, par; otherwise, 1% loss for every 1% that the final index level is less than the initial index level
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Initial level: | 2,378.25
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Barrier level: | 1,983.46, 83.4% of initial level
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Final level: | Average of index closing levels on five trading days ending Sept. 14, 2018
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Pricing date: | March 17
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Settlement date: | March 22
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Underwriter: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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Fees: | 1.25%
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Cusip: | 06741VPD8
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