Published on 11/7/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.37 million of five-year trigger gears on index, ADSs
By Susanna Moon
Chicago, Nov. 7 – Barclays Bank plc priced $2.37 million of 0% trigger gears due Nov. 2, 2023 linked to a basket of one index and the American Depositary Shares of six companies, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Hang Seng index with a 70% weight, Alibaba Group Holding Ltd. with a 5% weight, Baidu, Inc. with a 5% weight, Ctrip.com International, Ltd. with a 5% weight, JD.com, Inc. with a 5% weight, NetEase, Inc. with a 5% weight and Weibo Corp. with a 5% weight.
The payout at maturity will be par plus 1.365 times any basket gain.
If the basket falls by up to 30%, the payout will be par.
If the basket finishes below the 70% downside threshold, investors will lose 1% for each 1% decline.
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 basket: | Hang Seng index with a 70% weight, Alibaba Group Holding Ltd. (Symbol: BABA) with a 5% weight, Baidu, Inc. (Symbol: BIDU) with a 5% weight, Ctrip.com International, Ltd. (Symbol: CTRP) with a 5% weight, JD.com, Inc. (Symbol: JD) with a 5% weight, NetEase, Inc. (Symbol: NTES) with a 5% weight and Weibo Corp. (Symbol: WB) with a 5% weight
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| Amount: | $2,366,000
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| Maturity: | Nov. 2, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.365 times any basket gain; par if basket falls by up to 30%; otherwise, full exposure to losses
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| Initial levels: | 24,812.04 for Hang Seng index, $133.38 for Alibaba, $181.75 for Baidu, $30.55 for Ctrip, $21.98 for JD, $197.11 for NetEase and $54.65 for Weibo
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| Downside thresholds: | 70% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 06746V800
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